Tourmaline and Clean Energy announce a $70 million joint development agreement to build compressed natural gas (CNG) stations in western Canada
Through this 50-50 shared investment, Tourmaline and Clean Energy expect to construct up to 20 CNG stations over the next five years, which will allow heavy-duty trucks and other commercial transportation fleets to transition to the use of CNG, a lower-carbon alternative to gasoline and diesel. One of North America's largest logistics companies, Mullen Group, has indicated its support for the initiative and expects to use the network of stations to fuel its growing fleet of CNG-powered trucks.
"Tourmaline is Canada's largest natural gas producer, and innovation is at the heart of everything we do. So this partnership with Clean Energy is a natural fit," said Michael Rose, Chairman, President and CEO, Tourmaline. "Across our operations, we have achieved significant emission reductions and cost savings by displacing higher-emitting fuels with natural gas. Thanks to this exciting initiative, we're able to help the transportation industry do the same.”
View the video below for a recording of the press conference, April 18, 2023.
View the video below to learn more about this first-of-its-kind initiative.