TOURMALINE AND CLEAN ENERGY OPEN NEW CNG STATIONS, ADVANCING WESTERN CANADA'S FIRST COMMERCIAL-GRADE NATURAL GAS FUELING CORRIDOR
Tourmaline Oil Corp. and Clean Energy Fuels Corp. have opened two new compressed natural gas (CNG) fueling stations in Alberta, advancing Western Canada's first commercial-grade public CNG fueling network. The new stations in Calgary and Grande Prairie, along with the existing Edmonton station, establish a important transportation corridor for trucking companies converting from diesel to CNG.
This expansion is part of a $70 million Joint Development Agreement announced in April 2023, aiming to build up to 20 CNG fueling stations across Western Canada in five years. The initiative has already attracted nine market-leading companies, collectively displacing two million litres of diesel. The network, once complete, could fuel up to 3,000 natural gas-powered trucks daily.
The project coincides with Cummins introducing its X15N natural gas engine to the Canadian and U.S. heavy-duty truck market, offering diesel-like performance with reduced emissions. Construction on the next CNG station is set to begin in Kamloops, B.C., with Fort McMurray and Fort St. John to follow.
Tourmaline Oil Corp. e Clean Energy Fuels Corp. hanno aperto due nuove stazioni di rifornimento di gas naturale compresso (CNG) in Alberta, avanzando verso la prima rete di rifornimento pubblico CNG di grado commerciale nell'ovest del Canada. Le nuove stazioni a Calgary e Grande Prairie, insieme alla stazione esistente di Edmonton, stabiliscono un importante corridoio di trasporto per le compagnie di trasporto che si stanno convertendo dal diesel al CNG.
Questa espansione fa parte di un Accordo di Sviluppo Congiunto da 70 milioni di dollari annunciato ad aprile 2023, con l’obiettivo di costruire fino a 20 stazioni di rifornimento CNG in tutto l’ovest del Canada nei prossimi cinque anni. L'iniziativa ha già attratto nove aziende leader del mercato, sostituendo collettivamente due milioni di litri di diesel. Una volta completata, la rete potrebbe rifornire fino a 3.000 camion alimentati a gas naturale al giorno.
Il progetto coincide con l'introduzione del motore a gas naturale X15N da parte di Cummins nel mercato canadese e statunitense dei camion pesanti, offrendo prestazioni simili al diesel con emissioni ridotte. I lavori per la prossima stazione CNG dovrebbero iniziare a Kamloops, B.C., con Fort McMurray e Fort St. John a seguire.
Tourmaline Oil Corp. y Clean Energy Fuels Corp. han inaugurado dos nuevas estaciones de combustible de gas natural comprimido (CNG) en Alberta, avanzado hacia la primera red de suministro público de CNG de calidad comercial en el oeste de Canadá. Las nuevas estaciones en Calgary y Grande Prairie, junto con la estación existente en Edmonton, establecen un importante corredor de transporte para las empresas de transporte que se están convirtiendo de diésel a CNG.
Esta expansión es parte de un Acuerdo de Desarrollo conjunto de 70 millones de dólares anunciado en abril de 2023, con el objetivo de construir hasta 20 estaciones de CNG en todo el oeste de Canadá en un plazo de cinco años. La iniciativa ya ha atraído a nueve empresas líderes en el mercado, que en conjunto están sustituyendo dos millones de litros de diésel. Una vez completada, la red podría abastecer hasta 3.000 camiones propulsados por gas natural diariamente.
El proyecto coincide con la introducción del motor de gas natural X15N de Cummins en el mercado de camiones pesados en Canadá y los Estados Unidos, ofreciendo un rendimiento similar al diésel con emisiones reducidas. La construcción de la próxima estación de CNG comenzará en Kamloops, B.C., y seguirá con Fort McMurray y Fort St. John.
투말라인 오일 주식회사와 클린 에너지 퓨엘스 주식회사는 앨버타주에 두 개의 새로운 압축 자연 가스(CNG) 주유소를 열어 서부 캐나다 최초의 상업용 공공 CNG 주유 네트워크를 발전시키고 있습니다. 칼거리와 그랜드 프레리의 새로운 주유소는 기존의 에드먼턴 주유소와 함께 디젤에서 CNG로 전환하는 화물 운송 회사들을 위한 중요한 운송 통로를 형성합니다.
이번 확장은 2023년 4월에 발표된 7000만 달러 공동 개발 협약의 일환으로, 향후 5년간 서부 캐나다 전역에 20개의 CNG 주유소를 건설하는 것을 목표로 하고 있습니다. 이 이니셔티브는 이미 9개의 시장 선도 기업을 유치하여 200만 리터의 디젤을 대체하고 있습니다. 네트워크가 완공되면 매일 3000대의 자연 가스 차량에 연료를 공급할 수 있습니다.
이 프로젝트는 Cummins가 캐나다 및 미국의 중장비 트럭 시장에 X15N 자연 가스 엔진을 도입하는 것과 일치하며, 디젤과 유사한 성능을 제공하면서 배출량을 줄입니다. 다음 CNG 주유소의 건설은 캠플루프, B.C.에서 시작될 예정이며, 이후 포트맥머리와 포트세인트존이 이어질 것입니다.
Tourmaline Oil Corp. et Clean Energy Fuels Corp. ont ouvert deux nouvelles stations de ravitaillement en gaz naturel comprimé (CNG) en Alberta, faisant progresser le premier réseau public de distribution de CNG de qualité commerciale dans l'ouest du Canada. Les nouvelles stations à Calgary et Grande Prairie, ainsi que la station existante à Edmonton, établissent un important corridor de transport pour les entreprises de camionnage qui se convertissent du diesel au CNG.
Cette expansion s'inscrit dans le cadre d'un Accord de développement conjoint de 70 millions de dollars annoncé en avril 2023, visant à construire jusqu'à 20 stations de CNG dans l'ouest du Canada dans les cinq prochaines années. L'initiative a déjà attiré neuf entreprises leaders du marché, remplaçant collectivement deux millions de litres de diesel. Une fois le réseau achevé, il pourrait alimenter jusqu'à 3.000 camions fonctionnant au gaz naturel quotidiennement.
Ce projet coïncide avec l'introduction par Cummins de son moteur au gaz naturel X15N sur le marché canadien et américain des camions lourds, offrant des performances similaires à celles du diesel avec des émissions réduites. La construction de la prochaine station CNG devrait commencer à Kamloops, B.C., suivie par Fort McMurray et Fort St. John.
Tourmaline Oil Corp. und Clean Energy Fuels Corp. haben zwei neue Tankstellen für Erdgas in komprimierter Form (CNG) in Alberta eröffnet und damit das erste öffentliche CNG-Tankstellennetz von kommerzieller Qualität in Westkanada vorangetrieben. Die neuen Tankstellen in Calgary und Grande Prairie zusammen mit der bestehenden Tankstelle in Edmonton etablieren einen wichtigen Transportkorridor für Transportunternehmen, die von Diesel auf CNG umsteigen.
Diese Expansion ist Teil eines 70 Millionen Dollar Joint Development Agreements, das im April 2023 bekannt gegeben wurde und bis zu 20 CNG-Tankstellen im Westen Kanadas innerhalb von fünf Jahren aufbauen soll. Die Initiative hat bereits neun marktführende Unternehmen angezogen, die zusammen zwei Millionen Liter Diesel verdrängen. Nach Fertigstellung könnte das Netzwerk täglich bis zu 3.000 erdgasbetriebene Lastwagen betanken.
Das Projekt fällt zusammen mit Cummins, das seinen X15N-Ergas-Triebwerk auf dem kanadischen und US-amerikanischen Markt für schwere Lastwagen einführt, und dabei dieselähnliche Leistung mit reduzierten Emissionen anbietet. Der Bau der nächsten CNG-Station soll in Kamloops, B.C. beginnen, gefolgt von Fort McMurray und Fort St. John.
- Opening of two new CNG fueling stations in Alberta, expanding the network
- $70 million Joint Development Agreement to build up to 20 CNG stations in Western Canada
- Nine market-leading companies have joined, displacing two million litres of diesel
- Potential to fuel up to 3,000 natural gas-powered trucks daily once the network is complete
- Coincides with the introduction of Cummins' X15N natural gas engine for heavy-duty trucks
- CNG stations are equipped for future renewable natural gas (RNG) use
- None.
Insights
The opening of new CNG stations by Tourmaline and Clean Energy marks a significant development in Western Canada's transportation infrastructure. This
From an investor's perspective, this project presents both short-term and long-term opportunities:
- Short-term: Increased revenue streams from CNG sales and potential market share growth in the alternative fuel sector.
- Long-term: Positioning in the growing sustainable transportation market, with the infrastructure adaptable for future renewable natural gas (RNG) use.
The collaboration with major players like Cummins and support from large fleet operators such as Mullen Group adds credibility and potential for rapid adoption. However, investors should monitor the pace of fleet conversions and any regulatory changes affecting natural gas as a transition fuel.
This initiative represents a significant step towards reducing emissions in the transportation sector. CNG-powered vehicles produce lower emissions of CO2, NOx, SO2 and particulate matter compared to diesel. The project's scale - potentially fueling 3,000 trucks daily - could lead to substantial environmental benefits.
Key points for investors to consider:
- The project aligns with growing ESG trends, potentially attracting environmentally conscious investors and customers.
- The infrastructure's compatibility with future RNG use demonstrates forward-thinking and adaptability to stricter environmental regulations.
- Support from the Alberta government suggests a favorable regulatory environment for natural gas as a transition fuel.
However, investors should be aware that while CNG is cleaner than diesel, it's still a fossil fuel. Future policies favoring zero-emission vehicles could impact long-term viability. The project's success will depend on balancing immediate emission reductions with longer-term sustainability goals.
The expansion of CNG infrastructure in Western Canada represents a significant shift in the trucking industry. The introduction of Cummins' X15N natural gas engine, which reportedly delivers diesel-like performance, addresses a major barrier to CNG adoption in long-haul trucking.
Key implications for investors:
- Potential for reduced fuel costs for trucking companies, improving their profitability and competitiveness.
- Growing market for CNG-powered trucks could benefit manufacturers and parts suppliers in the medium term.
- The initiative could accelerate the transition away from diesel, potentially impacting traditional fuel suppliers and refineries.
The involvement of major fleet operators like Mullen Group, GFL Environmental and Martin Brower indicates strong industry interest. However, investors should monitor the rate of fleet conversions, the reliability of the new engine technology in real-world conditions and any changes in the cost differential between CNG and diesel fuel.
The expanding network of fueling stations represents a significant diesel displacement opportunity by providing a reliable source of compressed natural gas (CNG) for long-haul trucks and other fleets.
Powering long-haul trucks and other fleets with CNG results in lower emissions of carbon dioxide, nitrogen oxides, sulphur dioxide and particulate matter compared to traditional diesel-powered vehicles.
"We are expanding our multi-year diesel displacement initiative by making CNG more readily available to heavy-duty trucking companies," said Michael Rose, Chairman, President and CEO, Tourmaline. "Right here in
The
"The adoption of CNG has continued to accelerate over the last year, as more companies recognize the benefits of displacing diesel with a reliable fuel that is easy to use and extremely cost competitive for fleets," said Andrew Littlefair, President and CEO, Clean Energy. "The development of this critical infrastructure is perfectly timed as the important new X15N natural gas engine from Cummins is being introduced to the trucking industry to rave reviews. We expect that the combination of more fueling locations and the new engine technology, which is perfectly suited for the Canadian market, will pave the way for continued growth of CNG."
Cummins, one of the world's leading engine manufacturers, has recently introduced its X15N natural gas engine into the Canadian and
Mullen Group Ltd., (Mullen Group), the first company to support the Tourmaline and Clean Energy initiative, plans to leverage the new X15N engine as it prepares to nearly double its fleet of CNG-fueled trucks.
"As one of North America's largest logistics providers, the Mullen Group is committed to being a leader in sustainability. Today we operate one of the largest CNG-powered truck fleets in the Province of
"
Once complete, the 20-station network could fuel up to 3,000 natural gas-powered trucks daily. Construction on the next CNG fueling station is set to begin in
Visit our media kit for images, b-roll, fact sheets and videos of support from
Additional quotes:
"Having access to commercially available, compressed natural gas fueling is important to our industry and with the continued addition of accessible fueling infrastructure, we can continue to adopt natural gas fueling options across the region. At GFL, we have long recognized the benefits of utilizing this technology in our own operation and will now have the ability to replace more diesel with CNG in additional markets as infrastructure comes online."
- Tyler Stefure, Fleet Director for
"As a strategic supply chain partner, with more than 850 alternative-fuel vehicles globally, Martin Brower is continuing to expand our fleet of CNG-powered vehicles across
- Amy Senter, Global Vice President of Sustainability, Martin Brower
About Tourmaline Oil Corp.
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About Clean Energy Fuels Corp.
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Reader Advisories
Currency
All amounts in this joint news release are stated in Canadian dollars unless otherwise specified.
Forward-Looking Information
This joint news release contains forward-looking information and statements (collectively, "forward-looking information") within the meaning of applicable securities laws including Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that involve risks, uncertainties and assumptions, including without limitation information and statements about: the benefits of the joint development agreement including that the investment pursuant to the agreement will result in
The forward-looking information made herein speak only as of the date of this joint press release and, unless otherwise required by law, neither Tourmaline nor Clean Energy undertakes any obligation to publicly update such forward-looking information to reflect subsequent events or circumstances. Additional information on these and other factors that could affect Tourmaline, or its operations or financial results, are included in Tourmaline's most recently filed Management's Discussion and Analysis (See "Forward-Looking Statements" therein), Annual Information Form (See "Risk Factors" and "Forward-Looking Statements" therein) and other reports on file with applicable securities regulatory authorities and may be accessed through the SEDAR+ website (www.sedarplus.ca) or Tourmaline's website (www.tourmalineoil.com). Additionally, the reports and other documents Clean Energy files with the SEC (available at www.sec.gov) contain risk factors, which may cause actual results to differ materially from the forward-looking information contained in this joint news release.
Market, Independent Third-Party and Industry Data
Certain information contained in this joint news release relating to environmental or statistical data including the cost savings associated with fueling vehicles with CNG instead of retail diesel prices and the CO2 reduction equivalents of removing passenger vehicles from the road have been derived from market, independent third-party and industry data and is based upon, or derived from, information or estimates from government or other independent industry publications and reports. Government and industry publications and reports generally indicate that they have obtained their information from sources believed to be reliable, but neither Tourmaline nor Clean Energy has conducted its own independent verification of such information or ascertained the underlying assumptions relied upon by such sources. While Tourmaline and Clean Energy believes this data to be reliable, market and industry data is subject to variations and cannot be verified with complete certainty due to limits on the availability and reliability of raw data, the voluntary nature of the data gathering process and other limitations and uncertainties inherent in any statistical survey.
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SOURCE Tourmaline Oil Corp.
FAQ
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