2023 could be positive for energy but negative for overall market performance: Strategist
Irving Oil says it has teamed up with a renewable energy producer to supply its Saint John, N.B., refinery with carbon-negative renewable natural gas.
The New Brunswick company says Anaergia Inc. will supply Irving with natural gas made using food waste and other organic matter instead of fossil fuels.
Irving says the renewable natural gas is considered carbon-negative as it captures more methane than the organic waste would have created if landfilled, reducing greenhouse gas emissions.
Under the deal, Irving says Anaergia will supply the company with about 350 million cubic feet of renewable natural gas produced in Rhode Island through a regional pipeline.
The family-owned company says the agreement will reduce the need for conventional natural gas in Irving Oil’s operations.
Ian Whitcomb, president of Irving Oil, says the partnership will advance the company's energy transition.
"Waste will be diverted from the landfill and converted to renewable natural gas for use in our operations, including at our Saint John refinery,” he said in a statement.
“We are making strides in achieving our 2030 goal of a 30 per cent reduction in greenhouse gas emissions as we shift to lower carbon energies."
This report by The Canadian Press was first published Jan. 18, 2023.