Cryopeak pens LNG supply deal with Foran Mining

Cryopeak Energy Solutions, a Canadian provider of small-scale LNG solutions, has penned a long-term deal with McIlvenna Bay Operating, a subsidiary of Foran Mining Corp., to supply LNG to the McIlvenna Bay project situated in Northern Saskatchewan, it said on March 20.

Under this agreement, Cryopeak will provide LNG to meet all power generation needs during the initial project phase and will also be utilised for mine air ventilation. This move signifies a shift towards low-carbon energy solutions, as LNG will replace propane for air ventilation heating and fuel the multi-megawatt power generation plant, it said.

“We are very excited to partner with Foran Mining Corporation to help them meet their sustainability goals and support their decarbonisation efforts by using low carbon energy fuels.” said Shane Blackford, vice president, business development of Cryopeak.

The agreement solidifies Cryopeak's role as the exclusive LNG supplier for the McIlvenna Bay project throughout the contract's duration. Notably, LNG supply to the project commenced in the first quarter of 2024.