Notley explains the government is supporting the project through 80-million dollars in royalty credits, and that the province is working on diversifying the energy industry.

“We’ve offered Nauticol $80-million worth of royalty credits, which would become something worthwhile to them once the project is finished, and of course, it’s credits on royalties that as the Government of Alberta, we wouldn’t receive in the absence of this project going forward,” says Notley. “Albertans have been crying out for diversification. Not only within the energy sector, but outside the energy sector. We’ve made investments throughout the economy, we’ve been supporting diversification in manufacturing, in agriculture, in forestry, but even without energy, because we are very good at it. We should be able to diversify the industry itself more.”

It will eventually have three units that produce methanol, a compound used as an alternate fuel and in the making of plastics, paints, and other things.

It is expected to be the largest methanol plant in Canada.

“This world-scale project will expand Alberta’s petrochemical value chain by transforming the region’s abundant natural gas resources into a highly valued product that will reach growing global methanol markets. Nauticol is committed to meaningful, innovative collaborations, smart engineering and sustainable and low-cost production,” said President and CEO of Nauticol Mark Tonner.

Tonner explains that while they can’t use the royalty credits until the project is done, it’s a vote of confidence from the province to the company. He notes all the key elements are in place for the project to move forward.

The province says the project is expected to create 3,000 direct and indirect jobs.

“It’s 1000 construction jobs, and when the plant’s at full capacity, it’ll be over 200 – close to 230 permanent jobs. These are jobs that’ll last for the life of the plant, which is 50 years. For the amount of gas that we’ll use, when you look at up-stream jobs, that’s something that looks like 1000 up-stream jobs in the gas sector that wouldn’t exist with a plant like this happening – and then there’s service jobs attached to it. This is literally thousand of jobs by us undertaking this activity,” says Tonner.