Work is being done by the Government of Saskatchewan as they are ramping up the development process on a potential hydrogen hub down in the Regina-Moose Jaw region.
Pairing with the Ministry of Energy and Resources, are energy companies Whitecap Resources, and Federated Co-operatives Limited (FCL). According to a government release, they are working to support a foundation report study, developed by the Transition Accelerator and the Saskatchewan Research Council (SRC), to provide investors with a thorough analysis of commercial-scale hydrogen opportunities and synergies with carbon capture utilization and storage (CCUS) infrastructure in Saskatchewan.
“We’re a world leader in CCUS and enhanced oil recovery, which have natural connections to blue hydrogen,” Energy and Resources Minister Bronwyn Eyre said. “We expect this report to accelerate the private sector’s interest in Saskatchewan’s emerging hydrogen economy.”
With the world hydrogen market ever-expanding with increasing use in power generation, transportation fuel, and feedstock in the chemical industry, ‘Blue hydrogen’ projects are enabled using CCUS technology. Back in October 2021, Whitecap Resources and FCL signed a memorandum of understanding to explore opportunities around CCUS, enhanced oil recovery and CO2 transportation infrastructure, with all that coming after the Government of Saskatchewan announced several new policy commitments to advance CCUS projects, including advancing opportunities for an infrastructure hub in the Regina-Moose Jaw industrial corridor.
It’s believed that building a hub in this region could allow for the development of an entire, commercial scale hydrogen supply and demand chain in Saskatchewan, a fitting location, as Saskatchewan has played a prominent role in establishing CCUS as an industry according to Whitecap Resources President and CEO Grant Fagerheim. Them, along with FCL look forward to the carbon benefits presented by this move.
The release details the Transition Accelerator (TA) as a pan-Canadian charity that creates positive, transformational system changes to solve societal challenges, all while moving Canada to reach net-zero greenhouse gas emissions by 2050. The group launched Canada’s first two hydrogen hubs in Alberta. Provincially, the Ministry of Energy and Resources will support the Transition Accelerator with a grant of $100,000 to complete a Foundation Report. Additionally, $50,000 in funding will be provided by Whitecap Resources and FCL.
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.
The S&P/TSX composite index was up 0.05 of a point at 24,224.95.
In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.
The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.
The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.
The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.
This report by The Canadian Press was first published Oct. 10, 2024.
