Nova Scotia Government's recent decision means choice for customers
HALIFAX, July 11, 2012 /CNW/ - Irving Oil announced today that it will
be making natural gas available for the first time to commercial
customers in parts of Nova Scotia that currently do not have access to
natural gas pipelines. The Nova Scotia Government's recent announcement
that the market for delivered natural gas will remain open and
competitive means Irving Oil will begin servicing natural gas customers
in the province.
"Following a thorough and consultative review process, the Nova Scotia
Government reached a decision which we applaud as the best option for
customers," said Darren Gillis, General Manager, Irving Energy. "An
open and competitive market will mean more competition in Nova Scotia,
and we believe that fair competition drives down costs, fosters
innovative solutions and helps improve delivery reliability."
Irving Oil could begin operations as early as next year and will deliver
natural gas by truck in an easily transported form called compressed
natural gas, or CNG. Construction of Irving Oil's first natural gas
compression station in Nova Scotia is expected to begin once commercial
negotiations are finalized.
"We've been processing (refining) and delivering energy in multiple
forms to our customers since 1924," said Gillis. "We've been servicing
our Nova Scotia customers successfully since 1930, providing diesel,
heating oil, propane, bunker and other products. Now, we'll begin to
provide our customers with greater access to natural gas, which will
help them lower energy costs. Large commercial users in Nova Scotia who
convert to natural gas could cut their annual energy bills by as much
as 35 percent."
Recent reports indicate that North America could become the leading
producer of natural gas in the world, providing a ready supply from
which Irving Oil will serve new commercial customers and provide them a
competitive energy option. With North America's large supply of natural
gas and competitive prices, future commercial customers can expect to
see energy savings. In addition, natural gas has important
environmental advantages as the cleanest-burning fossil fuel.
"With Irving Oil's long history of delivering fuels safely and
efficiently throughout Atlantic Canada and New England, expanding our
natural gas business makes sound business sense both to us and to our
customers," said Gillis. "As Irving Oil leverages abundant natural gas
supplies and attractive costs, our customers who seek to increase their
competitiveness by lowering their fuel costs will also benefit."
About Irving Oil
Irving Oil was founded in 1924 and is a privately owned regional
refining and marketing company with a history of long-term partnerships
and relationships. Irving Oil operates Canada's largest refinery, in
Saint John NB, which is located 65 miles north of the US border and has
reached production rates in excess of 300,000 barrels per day. The
refinery exports over 80 per cent of its production to the US and
accounts for 75 per cent of Canada's gasoline exports to the US and 19
per cent of all US gasoline imports. In 2003, Irving Oil became the
first oil company to receive a US Environmental Protection Agency Clean
Air Excellence Award, for its clean gasoline. For more information
about Irving Oil, visit www.irvingoil.com.
SOURCE Irving Oil Operations Ltd.
For further information:
Carolyn Van der Veen
Irving Oil (506) 202-1869