Continental Energy Deal Positions Canada as a Leader on Energy Innovation and Collaboration

/EINPresswire.com/ -- CALGARY, ALBERTA -- (Marketwired) -- 06/29/16 -- Canada is a world leader in innovation and technology in the fight against climate change and has improved its competitive position in North America by committing to the North American Climate, Clean Energy, and Environment Partnership with the United States and Mexico.

Canada improved its competitive position by establishing a level playing field on GHG reduction targets with other North American oil and natural gas producers. Canada's environmental and regulatory stringency on methane emissions meets or exceeds the stringency of Mexico and the United States and we are pleased to see North America's commitment to the same goals to address climate change through innovation and technology.

Canada's upstream oil and natural gas industry has long advocated for a North America-wide strategy on methane emissions, and is in a leadership position to collaborate and share technological solutions with Mexico and the United States.

Over the past two decades, the oil and natural gas industry has reduced natural gas flaring by 63 per cent. The Canadian Oil Sands Innovation Alliance (COSIA) is an example of a voluntary group of oil sands producers that have invested almost $1.3 billion to develop 819 patents to improve environmental performance.

Canadian Association of Petroleum Producers quotes: Tim McMillan, president and CEO of CAPP

--  "Canada is a leader in reducing methane emissions in the oil and natural
    gas sector and we are pleased to see a joint commitment with our North
    American partners on methane reduction."

--  "Our industry recognizes the opportunity for better performance on
    methane emissions and has been addressing this by working with
    regulators and governments to improve performance at new and existing
    facilities."

--  "Through innovation and the development and application of technology,
    our industry's objective is to decrease, over time, greenhouse gas
    emissions per unit of oil and natural gas produced."

--  "This accord generates new opportunities for low-carbon fuels, such as
    Canadian natural gas, to supply growing energy needs in a new market."

Supporting information

--  British Columbia and Alberta have regulations on flaring, venting and
    fugitive emissions from upstream facilities, which serve as models for
    other jurisdictions.

--  In Alberta, environmental regulations cut the amount of natural gas
    flared by 63 per cent from 1996 to 2014.

--  In B.C., new regulations eliminated routine flaring at wells and
    production facilities this year.

--  In addition, industry and the governments of Alberta and B.C. are
    investigating the feasibility of carbon capture and storage to reduce
    emissions from the sector.

--  In 2012, 13 of Canada's largest oil sands companies independently formed
    COSIA. To date, the voluntary commitment of almost $1.3 billion and the
    work with some of Canada's top scientists has resulted in more than 800
    technologies and innovations to reduce greenhouse gas emissions and
    impacts on water, air and land.

--  Canada has more than 100 years of natural gas resources trapped in a
    competitive North American gas market. Development of Canadian LNG would
    unlock these resources and stimulate the production of natural gas to
    displace higher GHG emission fuels.

Key links

- The joint leaders statement can be viewed here.

- Follow this link for more information on COSIA.

Contacts:
Canadian Association of Petroleum Producers
Chelsie Klassen
403-267-1151
chelsie.klassen@capp.ca