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By rdnewsNOW Staff
Energy Business

Alberta declares June 6-10 as “Energy Week”

Jun 6, 2022 | 1:09 PM

Alberta is officially declaring the week of June 6-10 as Energy Week in the province.

“Alberta is showcasing the innovative oil and gas sector while celebrating new opportunities for responsible, reliable and affordable energy,” said the government in a release.

Officials say the week is to recognize the energy sector’s importance to Alberta’s past and future. Some examples they list include the industry’s contribution of billions of dollars to the province’s economy, employing hundreds of thousands of Albertans and Canadians, and the province’s potential to help meet growing demand for responsible energy and strengthen global energy security.

In December 2021, Alberta had 4,314 businesses with employees in the mining, quarrying and oil and gas extraction industry, which made up 2.5 per cent of businesses with employees.

That same year, it was the largest sector in Alberta, accounting for 21.1 per cent of the province’s GDP. It remains the largest source of capital investment in Alberta at $18 billion in 2021, which made up 32 per cent of total capital expenditures in the province. In 2022, the sector is expected to see capital expenditures increase by 23 per cent to $22.1 billion.

“Alberta is proud to be one of the most responsible producers of oil and gas globally and we are at the forefront of innovation and a diversified energy sector. As we recover from the pandemic, strong global demand for oil and gas is projected for decades to come. Alberta is well-positioned to meet that demand. We are excited to celebrate the industry’s achievements throughout Energy Week,” said Sonya Savage, Minister of Energy.

This year’s Global Energy Show, North America’s largest energy exhibition previously known as the Global Petroleum Show, will run from June 7-9 in Calgary, bringing together Canadian and global energy leaders in support of the sector. The provincial government says new business, investment and partnership opportunities will be their focus for the event.

“This week is all about highlighting that Alberta can – and should – be a big part of establishing global energy security. By producing and selling more Alberta energy, we can help reduce worldwide demand for energy from corrupt and dangerous regimes like Putin’s Russia. We are excited to tell this story and to welcome industry leaders to our province with our signature western hospitality,” said Premier Jason Kenney.

Minister Savage and Associate Minister of Natural Gas and Electricity Dale Nally are expected to lay the groundwork for new partnerships with key provincial, national and international delegates at the conference.

The government of Alberta says their presence at the show will also include the Alberta Pavilion – a hub of activity to draw potential partners looking to learn more about the province’s technology innovation and leadership in responsible energy development through targeted industry presentations, meetings and exhibition space.

This year’s show will have a hybrid format, with in-person and virtual attendees.

“The future for Alberta’s energy industry is bright, with new and emerging opportunities to diversify into sectors like petrochemicals, plastics recycling and hydrogen. The dynamic, innovative and entrepreneurial spirit of our energy sector will power our province for decades to come and cement our place as a global supplier of clean, responsibly produced energy,” said Minister Nally.

Officials say Alberta has seen more than $5 billion in investment announced for generation projects since 2019, including more than $2 billion for utility-scale renewable projects.

According to the Alberta Electric System Operator, Alberta currently has 2,449 MW of renewables under construction, 2,770 MW under regulatory approval and 15,357 MW announced and awaiting approval.

by rdnewsNOW Staff