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