Business
Tourmaline and Clean Energy Announce $70 Million Joint Development Agreement to Build CNG Stations in Western Canada
Tourmaline and Clean Energy Announce $70 Million Joint Development Agreement to Build CNG Station...
About this update from Tourmaline Oil Corp.
[{"type":"text","content":"\n \n \n \n Tourmaline and Clean Energy Announce $70 Million Joint Development Agreement to Build CNG Stations in Western Canada\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntaj{\nTEXT-ALIGN: JUSTIFY\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n \n \n \n \n \n \n Investment will establish a commercial fueling network for heavy-duty natural gas trucks across\n \n Western Canada\n \n \n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n April 18, 2023\n \n \n /CNW/ - Tourmaline Oil Corp. (TSX: TOU) (\"\n \n Tourmaline\n \n \") and Clean Energy Fuels Corp. (NASDAQ: CLNE) (\"\n \n Clean Energy\n \n \") announced today a\n \n $70 million\n \n Joint Development Agreement to build and operate a network of compressed natural gas (\"\n \n CNG\n \n \") stations along key highway corridors across\n \n Western Canada\n \n . Through this 50-50 shared investment, Tourmaline and Clean Energy expect to construct and commission up to 20 CNG stations over the next five years, which will allow heavy-duty trucks and other commercial transportation fleets that operate in the area to transition to the use of CNG, a lower carbon alternative to gasoline and diesel. Clean Energy will operate the stations. One of\n \n North America's\n \n largest logistics companies, Mullen Group Ltd. (\"\n \n Mullen\n \n \n Group\n \n \"), has indicated its support for the initiative as an early adopter and expects to use the network of stations to fuel its growing fleet of CNG-powered trucks.\n \n \n \"Tourmaline is\n \n Canada's\n \n largest natural gas producer, and innovation is at the heart of everything we do. So this partnership with Clean Energy is a natural fit,\" said\n \n Michael Rose\n \n , Chairman, President and CEO, Tourmaline. \"Across our operations, we have achieved significant emission reductions and cost savings by displacing higher-emitting fuels with natural gas. Thanks to this exciting initiative, we're able to help the transportation industry do the same.\"\n \n \n This initiative will develop critical infrastructure needed to support the adoption of lower-carbon natural gas fuel...