Alberta set an aggressive timeline for a potential new West Coast oil pipeline, aiming to submit a proposal by July 1, obtain a project of national interest designation by Oct. 1, and begin construction as early as Sept. 1, 2027. Oil could flow around 2033 or 2034. Analysts characterized the dates as optimistic and reflective of a best-case scenario due to remaining obstacles. The schedule follows finalization of an energy accord element on carbon pricing, with the market price rising to $130 per tonne by 2040. A remaining side agreement concerns funding for the Pathways carbon capture project, which is a precondition for the pipeline and vice versa. Alberta is leading the application because no private-sector player has yet taken on the risk and cost, while pipeline executives advise on technical proposal elements such as routing.
"The province aims to submit a proposal to the federal major projects office by July 1, have it designated a project of national interest by Oct. 1 and get shovels in the ground as early as Sept. 1, 2027. Oil could begin to flow around 2033 or 2034, a provincial official told a media background briefing last week. “While we are encouraged by the continued sense of urgency, we would characterize these timelines as optimistic and reflective of a best-case scenario,” analysts Robert Catellier and Rogan Anantharajah wrote in a Monday industry update."
"The Alberta government laid out those targets Friday after it and Ottawa finalized one of the last outstanding elements of the energy accord they signed late last year: an agreement on how the market price on carbon is to gradually increase to $130 a tonne by 2040. The last remaining side-agreement to sew up is between the province, federal government and a consortium of industry players represented by the Oil Sands Alliance on funding the multibillion-dollar Pathways carbon capture project. Under the federal-provincial memorandum of understanding, Pathways is a precondition for the pipeline and vice versa."
"The Alberta government is spearheading the pipeline application, as so far no private-sector player has emerged to shoulder the risk and cost. Top pipeline executives are, however, advising the province on the technical aspects of its proposal, including routing options. A national-interest designation would mean a speedy approval process via the federal major projects office established last year."
Read at www.cbc.ca
Unable to calculate read time
Collection
[
|
...
]