As pressure grows on the oil and gas sector to reduce its emissions, one Calgary-based company is banking on the potential to convert waste gas from oil wells into valuable electricity for nearby communities.
The privately held Steel Reef Infrastructure Corp. — which owns and operates a network of crude oil and natural gas pipelines as well as processing and storage facilities in Saskatchewan and North Dakota — wants to become known as an industry leader in the relatively new space of flare gas recovery.
The company announced this week it has signed a series of power purchase agreements with Crown corporation SaskPower that will see it provide the utility with approximately 100 megawatts of electricity per year for Saskatchewan’s grid — enough to power 100,000 homes annually.
The electricity, expected to come onto the province’s grid by late 2027, will be produced at five of Steel Reef’s gas plants …