Tourmaline Oil Corp., a major Canadian natural gas producer, has become the largest methane emitter in Alberta’s energy sector following a series of acquisitions. The company’s methane emissions surged 200% in October, reaching a record high and surpassing those of Canadian Natural Resources Ltd., Canada’s largest oil and gas producer. This significant increase raises concerns about the environmental impact of the company’s rapid expansion.
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Record-High Methane Emissions in Alberta
Data from the Alberta Energy Regulator reveals that Tourmaline Oil Corp. vented 3,862.5 thousand cubic meters of natural gas in October 2024. This represents a threefold increase from September and a 25% rise compared to the same period in 2023. Converted to daily emissions, this amounts to approximately 84.8 metric tons of methane, the highest recorded in Alberta since 2020.
This level significantly exceeds the US Environmental Protection Agency’s definition of super-emitters, which release 100 kilograms of methane per hour. Tourmaline’s emissions were more than three times this threshold in October.
Acquisitions and Production Growth Fuel Emissions
Tourmaline’s recent acquisitions of Bonavista Energy Corp. and Crew Energy Inc. have contributed to a significant increase in its gas production. The company’s output in Alberta grew by over 17% in the first ten months of 2024 compared to the entire year of 2023. This increased production, coupled with seasonal factors, has led to the surge in methane emissions. Venting typically rises during colder months (October to March) and decreases in warmer seasons. While Canadian Natural has historically been the top emitter, its venting has steadily declined in recent years.
Global Methane Challenge and Canadian Targets
The dramatic rise in Tourmaline’s emissions coincides with growing global concern about rising methane levels. Despite commitments from numerous countries and companies to reduce methane emissions, atmospheric concentrations continue to increase, posing a significant threat to climate change mitigation efforts. Methane is a potent greenhouse gas, trapping significantly more heat than carbon dioxide in the short term. Reducing methane emissions is crucial for slowing global warming. Canada aims to cut oil and gas methane emissions by at least 75% by 2030, based on 2012 levels. Tourmaline’s rising emissions underscore the challenges in achieving this ambitious target.
Conclusion: Balancing Growth and Environmental Responsibility
Tourmaline Oil Corp.’s significant increase in methane emissions following its recent acquisitions raises important questions about balancing production growth with environmental responsibility. While the company’s expansion has made it a major player in the Canadian energy sector, the resulting environmental impact necessitates a focused effort on mitigating methane emissions. As global scrutiny on methane emissions intensifies, companies like Tourmaline will face increasing pressure to adopt sustainable practices and align with national and international climate goals. The company’s response to this challenge will be critical for its long-term sustainability and reputation.
