Nine employees of Toyota Tsusho Corporation were hosted by Encana at a noon reception held Thursday at the Badlands Community Facility.
The group was on a week-long visit to Calgary and area, familiarizing themselves with Encana facilities after having acquired a 32.5 per cent royalty interest in natural gas production from a portion of Encana’s coalbed methane (CBM) resource play.
Toyota Tsusho is a multi-faceted corporation with holdings in food, consumer products, and automotive, and includes some 400 affiliates throughout the world. This is their first project in Western Canada, and will give the company an investment opportunity in some 4,000 current wells and up to 5,500 potential wells in the future.
Currently, Japan is interested in developing natural gas production and turning it into electrical power which can replace the country’s dependence on nuclear power. Following the earthquake and subsequent tsunami that wreaked havoc in Japan just over a year ago, the country’s 54 nuclear power plants are all shut down, according to Toyota Tsusho’s Executive Officer, Mr. Yoshihiro Inoue.
He told the meeting the partnership with his company and Encana is very important to both Canada and Japan, and they chose the investment for two reasons. Encana is one of the best operated companies in natural gas production, their operation is environmentally safe, and there is no compromise to safety because of their commitment to protect the environment.
Attending the meeting were elected officials from Drumheller, Starland County, Kneehill County, Wheatland County, and many surrounding towns and villages in the Encana’s Wheatland
