Alberta Government Announces $25 Million Methane Technology Implementation Program
Last week, the Government of Alberta announced a new program, called Methane Technology Implementation Program (MTIP). The program is funded with $25 million for deployment of commercially available technologies that reduce methane in oil and gas operations.
Under the program, oil and gas producers can apply for up to $1 million each to cover 50% of the cost of deployment of methane reduction technologies. Eligibility for the program is broad and will cover any Alberta upstream oil and gas facility other than those considered large emitters.
Unfortunately, MTIP funded projects are not eligible for credits under the Alberta Emissions Offset system. This is an important consideration for Producers since some methane reduction projects such as instrument gas to instrument air conversions will generate significant returns based on carbon offsets. In many cases carbon credit financing can be used to cover 100% (rather than just 50%) of project costs.
If you’d like to learn more about the potential to use MITP or carbon credits to offset the cost of eliminating methane venting from your sites, please contact us at info@westgentech.com. Westgen’s purpose is to support oil and gas producers in reducing methane emissions. Our knowledgeable team would be happy to prepare an MTIP application or evaluate carbon credit economics for your sites at no cost.
You can learn more about the MTIP program at the Carbon Connect International website here.
