Page 44 - InvestinAlberta-EDA-2024-2

AT A GLANCE
44
INVEST IN ALBERTA 2 0 2 4
EDAAlberta.ca
~3.3 MILLION BARRELS
Of crude bitumen (mined and in-situ) produced per day
in Alberta in 2022
60 PER CENT Of Canada’s production of natural gas is in Alberta
FOURTH
LARGEST
Oil reserves in the world are in Alberta
Funding the Future of Energy
The commitment to clean energy in Alberta is demonstrated in a significant way by the support available to develop digital technologies with multi-pronged goals of creating jobs and reducing emissions in the energy sector.
One such program is the Digital Innovation in Clean Energy (DICE) program announced by Alberta Innovates. With intake starting in February 2024 and up to $2.5 million available, eligible individual projects
Biggest Private Investment
Alberta’s Industrial Heartland will
be home to the world’s first net-zero Scope 1 and 2 greenhouse gas emissions integrated ethylene cracker and derivative site. Announced in late 2023, the $6.5 billion dollar investment by Dow is one
of the largest private investments in the province’s history.
With construction slated for 2024, the province sees this project as a clear demonstration that Alberta is business- friendly and ready for investment. It positions the province as a global hub for petrochemicals and emphasizes Alberta’s
could be granted as much as $250,000 over 18 months. The projects can range from artificial intelligence and machine learning, drones, augmented and virtual reality and blockchain technology — all of which could have multi-sectoral potential.
The advancement of clean resource technologies supports the goal to diversify Alberta’s economy, sustain the energy resource industries and provide environmental protection.
commitment to being a world leader in emissions-reducing technology.
Dow states the investment is expected to deliver $1 billion of core profit annually when it is fully running, and maintains its commitment to be carbon neutral by 2050.
Located in Fort Saskatchewan, just 30 kilometres northeast of Edmonton, the project will be built in phases, assuming regulatory approvals, and will be operational in 2027, with a second phase coming online in 2029. The project is expected to create 500 permanent jobs and up to 8,000 during construction.
$24.6
BILLION
Was invested in the upstream energy industry in Alberta in 2022
$156.61
BILLION
Worth of mining, quarrying and oil and gas extraction products was exported from Alberta to all markets in 2022
~138,000
PEOPLE
Were employed in Alberta’s upstream energy sector in 2022
~2.5 MILLION
TONNES
Of grey hydrogen and blue hydrogen production occurred in Alberta in 2022
142,200 KM2 Is the area of oil sands resources in Alberta
Source: Government of Alberta, Alberta Energy Regulator
BY THE NUMBERS
Building Big Business with Clean Energy
Amazon is once again investing in Alberta.
The tech giant announced in late 2023 a $478 million investment into the creation of its Buffalo Plains wind farm, Amazon’s first in Canada, to be built in Vulcan County about one hour southeast of Calgary in Southern Alberta.
Amazon will be developing this wind farm in partnership with Copenhagen Infrastructure Partners, which will have 83 wind turbines at a total capacity of 495 megawatts. Construction began on this project in 2022, and is expected to be completed in 2025.
Amazon has stated its plans to be powering operations with 100 per cent clean, renewable energy by 2030, and says it is on track to reach that goal ahead of schedule.