Invest Alberta signs MoU with Taiyo Oil

This capitalises on Taiyo Oil’s core strengths, particularly in areas where Taiyo can bring additional value to existing supply chains. Alberta has one of the world’s most advanced regulatory systems in place to drive energy transition projects whilst also offering excellent incentives to companies looking to develop new projects.

“Taiyo Oil considers Alberta to be a key strategic location as we look to expand our business activities beyond the Asia region. We have been encouraged by the initial interactions with the business community and the provincial government in Alberta. I believe that this MoU with Invest Alberta will further enhance our level of engagement in the province of Alberta, leading to the establishment of long-term business partnerships. The team at Taiyo Oil feels a natural affinity towards Alberta. I believe that we have very similar challenges to those of the industries in the province, particularly relating to the realisation of carbon-neutral business activities in the coming decades. We look forward to building meaningful partnerships within Alberta, responsibly and respectfully,” said Takahiro Yamamoto, President and CEO, Taiyo Oil Company Ltd.

“Alberta has a long history of jointly beneficial work with Japanese firms and this MoU with Taiyo Oil Company will build on this past success. Like Taiyo Oil, we want to take our long expertise in the oil and gas industry and leverage it into further opportunities both in emerging oil and gas resources and in the energy transition. Albertans are the most responsible and innovative energy producers in the world and are further strengthened when we work with innovative companies through agreements like this.” Added, Brian Jean, Minister of Energy and Minerals.

“We’re proud to formalise our collaboration with Taiyo Oil and look forward to building on this relationship through Invest Alberta’s dedicated support. Alberta is the right place, and now is the right time, for forward-looking energy investments. We’re honoured to support Taiyo’s bold journey toward carbon neutrality – and excited to see what we can achieve together.” Commented Rick Christiaanse, Invest Alberta CEO.

The Consulate-General of Japan in Calgary, Takehiko Wajima, also commented on the partnership, he stated: “As Japan aims for a diversified energy sector and a sustainable society, Alberta will continue to be a salient partner. I highly welcome the signing of the MoU, as is it will further strengthen the relationship between Japan and Alberta, and continue to bring benefits to the province’s economy and its people.”

Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/20052025/invest-alberta-signs-mou-with-taiyo-oil/