CALGARY - The company building the Trans Mountain pipeline has submitted evidence to support its claim that oil companies must pay more in tolls in light of the pipeline project's mounting costs. Trans Mountain Corp. says in a new regulatory filing that the increased costs of the pipeline expansion project were "reasonably and justifiably incurred." The Crown corporation has successfully applied for permission to charge oil shippers higher tolls once the pipeline expansion is operational, [Read more]
BP is the latest company to pause Red Sea shipments over fears of Houthi attacks
LONDON (AP) — Oil and natural gas giant BP has joined the growing list of companies that have halted their shipments through the Red Sea because of the risk of attack from Yemen's Houthi rebels, threatening a major trade route in what is expected to have global effects. London-based BP said Monday that it has “decided to temporarily pause all transits through the Red Sea,” including shipments of oil, liquid natural gas and other energy supplies. Describing it as a “precautionary pause," the [Read more]
Feds to publish plan for capping emissions from oil and gas sector today
OTTAWA - The federal Liberals will finally provide details on their long-promised oil and gas emissions cap today. The policy is a critical piece of Canada's long-term emissions reduction plan but today's framework will show the sector won't be asked to cut emissions as deeply as previously thought. The 2022 emissions reduction plan anticipated regulating that emissions from oil and gas in 2030 fall more than 40 per cent from current levels. Industry balked at that demand, saying it [Read more]
Coastal GasLink pipeline mechanically complete before year-end deadline
VANCOUVER - The Coastal GasLink pipeline that stretches across northern B.C. is mechanically complete ahead of the company's year-end deadline. A statement from TC Energy Corp. says history has been made by finishing Canada's first pipeline to the West Coast in over 70 years. The company announced in October that the installation of the pipe was finished, while mechanical completion means the end of construction, successful hydrotesting of the full 670-kilometre line and engineering [Read more]
Alberta Energy Regulator won’t reconsider approval for Suncor expansion into wetland
The Alberta Energy Regulator says it won't reconsider approvals for Suncor Energy to expand an oilsands mine into a wetland once considered for environmental protection. The regulator released its ruling today in response to a request that was made last spring by the Alberta Wilderness Association. Suncor had been given the OK to expand its Fort Hills mine into the McClelland Lake wetland complex, a large intact wetland that lies partly within the company's lease. The regulator paused [Read more]
Feds promise long-awaited Indigenous loan guarantee program, but offer few details
OTTAWA - The "next steps" for a long-awaited Indigenous loan guarantee program will be announced in next year's federal budget, the Liberal government promised in its fall economic statement on Tuesday. But industry groups and Indigenous leaders are still waiting for details on whether the program, which the fiscal update said would help communities invest in the natural resource sector, will facilitate equity ownership in oil and gas projects. It is important for help to be available [Read more]
Feds set aside $7B from Canada Growth Fund for carbon-price contract guarantees
OTTAWA - The federal government is dedicating almost half of its clean-tech economic investment fund to special contracts intended to give companies the confidence they need to make major investments to lower their greenhouse-gas emissions. Today’s fall economic statement says the new $15-billion Canada Growth Fund will allocate up to $7 billion for contracts for difference. Oil and gas companies have been waiting on such contracts to help maintain a competitive position [Read more]
Significant update on Pathways Alliance project coming soon: MEG Energy CEO
CALGARY - The CEO of one of the oilsands companies behind the Pathways Alliance says the group expects to provide a significant update on its proposed $16.5-billion carbon capture and storage project within the next couple of months. Derek Evans, chief executive of MEG Energy, made the comments on a conference call with analysts discussing the company's third-quarter financial results. MEG is one of six oilsands companies that have formed the Pathways consortium with the goal of reducing [Read more]
Pembina Pipeline needs Trans Mountain certainty before considering an offer: CEO
CALGARY - The CEO of Pembina Pipeline Corp. says the company needs more certainty over timing, regulations and costs related to the Trans Mountain expansion project before deciding whether to make an offer for an equity stake in the pipeline. The Calgary-based pipeline company formed a partnership in 2021 with Western Indigenous Pipeline Group for the purpose of pursuing an Indigenous-led equity stake in Trans Mountain. That partnership, called Chinook Pathways, is one of just two entities [Read more]
Coastal GasLink pipeline fully installed: TC Energy
CALGARY - The Coastal GasLink pipeline, one of the largest energy infrastructure projects in recent Canadian history, is physically complete. TC Energy Corp., the company behind the project, said Monday it has finished installing pipe along the entire 670-km route from Dawson Cree, B.C. to Kitimat, B.C. — a milestone that marks the culmination of over five years of construction and 10 years of planning. The final weld was completed Oct. 7 at the base of Cable Crane Hill near Kitimat, TC [Read more]
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