Cogeneration is the process of simultaneously producing steam and electricity. In MEG Energy’s operations, the steam is used for SAGDbitumen recovery, while the electricity is used to power the plant site, with excess power sold to Alberta’s power grid.
Cogeneration technology has several advantages over conventional steam boilers
Return on Investment
The amount of useable energy created from the burning of natural gas – is increased, as both bitumen and electricity are produced.
Electricity produced at the plant site helps to ensure steady and reliable power.
The sale of excess electricity helps offset production costs.
The electricity provided to the power grid has a lower carbon footprint than the provincial average, helping to reduce total greenhouse gas intensity for provincial consumers.
MEG is the leading pure play in situ thermal oil producer in Canada. MEG’s strategy is focused on delivering sustainable free cash flow by leveraging its high-quality assets and exceptional team.