TC Energy wants to bring nuclear power to oilsands
The head of Canadian pipeline giant TC Energy Corp. says the company sees a future opportunity to get involved in providing small-scale nuclear power for Alberta’s oilsands.
Chief executive François Poirier told analysts on a conference call Friday that TC Energy believes the oilsands are “an excellent use case” for small modular nuclear reactors, or SMRs.
He pointed out the company already has a 48.4 per cent ownership stake in Ontario-based nuclear generating company Bruce Power, which would make TC Energy’s entry into the SMR space a logical step.
“We’ve got the technical expertise to develop and evaluate those technologies, but I think equally importantly we’ve got the commercial relationships with the oilsands producers. We have all the surrounding and supporting infrastructure on site to provide their steam and power needs,” Poirier said Friday.
TC Energy has repeatedly stated that it believes “all forms of energy” will be needed in the coming decades to address growing global energy demand and concerns about energy security.
The company is also working to address its greenhouse gas emissions. Earlier this week, it announced plans to evaluate a hydrogen production hub in Crossfield, Alta., and last week it announced a collaboration with GreenGasUSA to develop a network or renewable natural gas (RNG) hubs in the United States.
TC Energy is also actively seeking potential contracts and investment opportunities in wind, solar and energy storage projects to meet the electricity needs of the U.S. portion of the Keystone pipeline system, and to supply renewable energy to the North American industrial and oil and gas sectors.
Poirier said Friday that nuclear could be the next step in this process for the company, though it won’t happen this decade.
“The technology needs to be proven up. And in our view, the oilsands producers would need to buy into one common technology so that they have the requisite expertise to operate and maintain a fleet for these purposes. All of this is going to take time,” he said.