A rendering of the proposed methanol plant (Photo: Alberta Infrastructure / Major Projects)

By Shaun Penner

Nauticol

County deeming proposed methanol plant in the public interest

Feb 11, 2021 | 6:27 PM

County of Grande Prairie Council will be writing a letter of support to Nauticol Energy, declaring their proposed multi-billion-dollar methanol plant project to be in the public interest, based on Council’s current knowledge.

The request for the letter came at Monday’s meeting, as Nauticol continues to seek capital investment into the estimated $2 billion project. It was announced back in 2018 and is to be built south of Grande Prairie near the International Paper and Weyerhaeuser mills.

Reeve Leanne Beaupre says amid the current economic climate, particularly in the energy sector, it’s clear investors are looking for assurances about the security of the project being able to go forward.

“One of the things that had come to light for Nauticol was that these investors were looking to make sure that the project aligned with the United Nations’ 17 sustainability goals,” said Beaupre.

With this, likely being the first such project the County has been asked to support that outlines such goals, Council directed Administration to develop a matrix that would be used to evaluate projects like Nauticol’s to determine whether they are in fact in the public interest, based on the UN criteria.

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Council will review that matrix and get a better understanding of it at a future Council Committee of the Whole meeting.

“The letter that was requested from Nauticol, that letter was given support based on the project as we had been presented.”

Beaupre says she feels confident in where the project currently stands, with the understanding that some international investment has been retained by Nauticol for the project.

The County has also recently received the title for the land on which the petrochemical plant would be built, which Nauticol would then purchase from the County.

“That gives more confidence to international investors that the project has a piece of property, where it is going to be located on,” said Beaupre.

“We’ve received nothing but positive feedback from their administration, and as far as the County is concerned, the project is moving forward.”

The plan is for the plant to produce methanol, a compound used as an alternate fuel and in the production of items such as plastic and paint.

At the time of its announcement in 2018, the plant was expected to be the largest methanol plant in Canada. It is expected to create approximately 1,000 construction jobs, plus over 200 permanent jobs upon completion.

Nauticol has also requested a letter of support from the City of Grande Prairie, which will likely be discussed at Tuesday’s standing committee meetings.