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Researched by Industrial Info Resources (Sugar Land, Texas)--Canada's government will reject Enbridge Incorporated's (NYSE:ENB) (Calgary, Alberta) Northern Gateway oil pipeline project, but approve Kinder Morgan Incorporated's (NYSE:KMI) (Houston, Texas) Trans Mountain pipeline project, along with Enbridge's Prime Line 3 replacement project, Prime Minister Justin Trudeau announced Tuesday.
Enbridge's Northern Gateway Project comprises a proposed $6 billion+, 525,000-barrel-per-day petroleum export pipeline that would connect Edmonton, Alberta to Kitimat on the north-central coast of British Columbia. The proposal consists of a 1,170-kilometer petroleum export pipeline, a condensate import pipeline, and a marine terminal.
Trudeau said he directed Canada's National Energy Board (NEB) to reject the Northern Gateway project application, explaining it does not meet the government's strict environmental criteria. He said the project is not in the best interest of British Columbia's indigenous peoples, adding the region's ecosystem is a "jewel of Canada's northwest coast." The project was approved by the previous Canadian government, but had its permits invalidated earlier this year in a court ruling that found the government did not properly consult with indigenous people regarding the project.
For related information, see October 3, 2016, article - Enbridge to Sell Saskatchewan Pipeline System, and September 16, 2016, article - Native American Treaty Poses New Challenge to Canada's Oil Sands.
Trudeau said the government approved Enbridge's Line 3 replacement project, which will fully replace 1,031 miles of crude oil pipeline from Hardistry, Alberta, to Superior, Wisconsin. The project has a total investment value of $7.5 billion and involves replacing the existing pipe with modern pipe materials. Trudeau said the project will meet 37 binding conditions set forth by the NEB, and ensures state-of-the-art technology to prevent oil spills. The project will create 7,000 jobs, he added.
Also approved is Kinder Morgan's $5.5 billion Trans Mountain expansion project to twin the existing Trans Mountain oil pipeline and expand the Westridge Marine Terminal. The existing pipeline, built in 1953, runs from Edmonton, Alberta, to the Westridge Marine Terminal and the Chevron refinery in Burnaby, British Columbia. The expansion project will create 15,000 jobs, Trudeau said.
Finally, Trudeau said he will continue the government's ban on oil tanker traffic along British Columbia's north coast. For related information, see December 9, 2015, article - Crude Tanker Moratorium Sparks Questions Over Fate of Northern Gateway Pipeline.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com/.
Enbridge's Northern Gateway Project comprises a proposed $6 billion+, 525,000-barrel-per-day petroleum export pipeline that would connect Edmonton, Alberta to Kitimat on the north-central coast of British Columbia. The proposal consists of a 1,170-kilometer petroleum export pipeline, a condensate import pipeline, and a marine terminal.
Trudeau said he directed Canada's National Energy Board (NEB) to reject the Northern Gateway project application, explaining it does not meet the government's strict environmental criteria. He said the project is not in the best interest of British Columbia's indigenous peoples, adding the region's ecosystem is a "jewel of Canada's northwest coast." The project was approved by the previous Canadian government, but had its permits invalidated earlier this year in a court ruling that found the government did not properly consult with indigenous people regarding the project.
For related information, see October 3, 2016, article - Enbridge to Sell Saskatchewan Pipeline System, and September 16, 2016, article - Native American Treaty Poses New Challenge to Canada's Oil Sands.
Trudeau said the government approved Enbridge's Line 3 replacement project, which will fully replace 1,031 miles of crude oil pipeline from Hardistry, Alberta, to Superior, Wisconsin. The project has a total investment value of $7.5 billion and involves replacing the existing pipe with modern pipe materials. Trudeau said the project will meet 37 binding conditions set forth by the NEB, and ensures state-of-the-art technology to prevent oil spills. The project will create 7,000 jobs, he added.
Also approved is Kinder Morgan's $5.5 billion Trans Mountain expansion project to twin the existing Trans Mountain oil pipeline and expand the Westridge Marine Terminal. The existing pipeline, built in 1953, runs from Edmonton, Alberta, to the Westridge Marine Terminal and the Chevron refinery in Burnaby, British Columbia. The expansion project will create 15,000 jobs, Trudeau said.
Finally, Trudeau said he will continue the government's ban on oil tanker traffic along British Columbia's north coast. For related information, see December 9, 2015, article - Crude Tanker Moratorium Sparks Questions Over Fate of Northern Gateway Pipeline.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com/.
