Parkland announces $600 million expansion

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Parkland Corporation has announced plans to increase renewable fuel production at its Burnaby Refinery as part of its commercial decarbonization strategy, enabling the supply of low carbon products and services. Plans include expanding existing co-processing volumes to approximately 5,500 barrels per day, and a new stand-alone renewable diesel complex capable of producing approximately 6,500 barrels per day of renewable diesel. It is estimated that these projects will require an investment of approximately $600 million, with the majority of capital investment expected to be deployed in 2024 and 2025.

The announcement follows collaboration with the Government of British Columbia and supports the Government’s ambition to achieve net-zero emissions by 2050. Parkland has received BC Government support for over 40 percent of the project costs in the form of BC Low-Carbon Fuel Standard Compliance Credits. The expansion will also create up to 1,000 jobs in its construction phase. A final investment decision will be made in the second half of 2023, with production expected to begin in 2026.

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