Pathways Alliance appoints Derek Evans as Executive Chair

Derek Evans, former MEG Energy President & CEO, joins Pathways Alliance to advance strategic plan to reach net zero emissions from oil sands operations

CALGARY, AB, May 9, 2024 /CNW/ - Pathways Alliance (Pathways) announced today the appointment of Derek Evans to Executive Chair, effective immediately. Evans takes this role following his tenure as president and CEO of MEG Energy, where he was closely involved in the Pathways Alliance organization serving on the Steering Committee and at the CEO table.  

"Pathways Alliance is fortunate to have Derek's continued commitment to our success as we work to decarbonize our industry," said Kendall Dilling, President at Pathways. "His extensive experience in the oil sands industry spans operations through to executive strategy. Through his passion and advocacy for Pathways and strategic big picture thinking, Derek will continue to be an invaluable asset to our organization and will help advance our foundational project."

As Executive Chair, Evans' main responsibilities are to provide strategic leadership to the executive team and Steering Committee; lead high-level external stakeholder engagement, including collaborations with the federal and provincial governments; and support the strategic execution of the Pathways members' plan to reach net zero emissions (scopes 1 & 2) from their oil sands operations by 2050.

"This initiative is critical to me and one of the most important of my career," said Evans. "I'm excited to continue my work with industry, to engage with government, and to represent Pathways as we continue our important work to help our country achieve a sustainable future. The Pathways foundational carbon capture and storage project is too important an initiative for me to leave unfinished."

Evans is a veteran oil and gas industry executive with more than 40 years of experience. As President and CEO of MEG Energy, a Pathways Alliance founding member, he was closely involved in the work of the Alliance since its inception in 2021.

For more information on Pathways' leadership visit: https://pathwaysalliance.ca/who-we-are/leadership/.

Canada's six largest oil sands companies are working together ? and with governments ? on an ambitious plan to help meet the national 2050 net zero goal and deliver the world's preferred barrel of responsibly produced oil. 

The Pathways Alliance members have set goals to reduce emissions from oil sands operations (scopes 1 and 2) significantly by 2030 and achieve their goal of net zero from oil sands operations by 2050. 

To do this, a multi-stage effort is planned to deploy various emissions reduction technologies, including one of the world's largest proposed carbon capture and storage projects that would be constructed in the Cold Lake region of northeastern Alberta. 

The Pathways Alliance is a model for all sectors within Canada and globally of how peer companies can set aside their competitiveness to work together towards a common goal. 

The Pathways Alliance is made up of Canadian Natural, Cenovus Energy, ConocoPhillips Canada, Imperial, MEG Energy and Suncor Energy. 

Cautionary Statement: Statements of future events or conditions in this press release, including projections, targets, expectations, estimates, and business plans are forward-looking statements. Forward-looking statements can be identified by words such as achieve, aspiration, believe, anticipate, intend, propose, plan, goal, seek, project, predict, target, estimate, expect, forecast, vision, strategy, outlook, schedule, future, continue, likely, may, should, will and/or similar references to outcomes in future periods. Forward-looking statements in this press release include, but are not limited to, references to the viability, timing and impact of the net zero plan and the development of pathways in support of a net-zero future; support for the pathways from the Government of Alberta and the Government of Canada; the ability to enable net zero emissions from oil production and preserve economic contribution from the industry; the deployment ?of technologies to reduce GHG emissions; the ability to create jobs, accelerate development of the clean tech sector, provide benefits for other sectors and help maintain Canadians' quality of life; and making economic investments to ensure a successful transition to a net zero world and delivering long term value to shareholders. All net-zero references in this announcement apply to emissions from oil sands operations (defined as scope 1 and scope 2 emissions). 

Forward-looking statements are based on current expectations, estimates, projections and assumptions at the time the statements are made. Actual future results, including expectations and assumptions concerning: demand growth and energy source, supply and mix; amount and timing of emissions reductions; the adoption and impact of new facilities or technologies, including on reductions to GHG emissions; project plans, timing, costs, technical evaluations and capacities, and the ability to effectively execute on these plans and operate assets; that any required support for the pathways from the Government of Alberta and the Government of Canada will be provided; applicable laws and government policies, including climate change and restrictions in response to COVID-19; production rates, growth and mix; general market conditions; and capital and environmental expenditures, could differ materially depending on a number of factors. These factors include global, regional or local changes in supply and demand for oil, natural ?gas, and petroleum and petrochemical products and the resulting price, differential and margin impacts; political or regulatory events, including changes in law or government policy and actions in response to COVID-19; the receipt, in a timely manner, of regulatory and third-party approvals including for new technologies; lack of required support from the Government of Alberta and the Government of Canada; environmental risks inherent in oil and gas exploration and production activities; environmental regulation, including climate change and GHG regulation and changes to such regulation; availability and allocation of capital; availability and performance of third-party service providers; unanticipated technical or operational difficulties; project management and schedules and timely completion of projects; reservoir analysis and performance; unexpected technological developments; the results of research programs and new technologies, and ability to bring new technologies to commercial scale on a cost-competitive basis; operational hazards and risks; general economic conditions, including the occurrence and duration of economic recessions; and other factors referenced by the companies' in their most recent respective annual reports and management's discussion and analysis, as applicable. 

Forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties, some that are similar to other oil and gas companies and some that are unique to the companies. Actual results may differ materially from those expressed or implied by its forward-looking statements and readers are cautioned not to place undue reliance on them. The companies undertake no obligation to update any forward-looking statements contained in this press release, except as required by applicable law. 

SOURCE Pathways Alliance