EDMONTON - Alberta Premier Dave Hancock says the decision to approve the Northern Gateway pipeline is a step forward for the country. Hancock says the pipeline to ship Alberta crude to the B.C. coast is critical to diversifying Canada's economy and paying for goods and services, like health care. The federal government has given approval to the line, provided 209 conditions can be met, including engagement with First Nations and other communities along the pipeline route. Former federal [Read more]
Oil slips as market eyes developments in Iraq, latest reading on U.S. supplies
The price of oil fell Tuesday as fears over the prospect of disruption to Iraq's crude supplies subsided a little and traders awaited the latest report on U.S. supplies. Benchmark West Texas Intermediate crude for July delivery dropped 54 cents to US$106.36 a barrel on the New York Mercantile Exchange. Brent crude, a benchmark used to price international oils, gained 51 cents to US$113.45 a barrel on the ICE Futures exchange in London. Up to 275 U.S. soldiers moving into position to [Read more]
Feds approve Northern Gateway
The Harper government has approved Enbridge's Northern Gateway pipeline with several conditions. In December 2013 the NEB Joint Review Panel recommended that the federal government approve the project, subject to 209 required conditions. Read the release below courtesy Government of Canada: Government of Canada Accepts Recommendation to Impose 209 Conditions on Northern Gateway Proposal Proponent must demonstrate how conditions will be met, undertake further consultations [Read more]
B.C, First Nation reach deal for land sale in heart of expected LNG growth
KITIMAT, B.C. - The B.C. government is heralding the sale of land to a First Nation in an area Premier Christy Clark hopes will one day be at the heart of a booming liquefied natural gas industry.Clark was in northern B.C. to mark the sale of land in downtown Kitimat to the Haisla Nation.The land has sat idle since a hospital on the site was demolished in 2005, though the prospect of a growing LNG industry along with other industrial projects has turned it into prime real estate.The Haisla [Read more]
A tale of two pipelines: a look at Northern Gateway and Keystone XL
OTTAWA - With the Conservative government poised to announce its decision on Northern Gateway here's a look at the controversial pipeline project and how it shapes up against its cross-border cousin, Keystone XL: THE BASICS Northern Gateway is a proposed 1,177-kilometre twin pipeline that would carry diluted bitumen from Alberta to the town of Kitimat on the British Columbia coast, where it would be shipped overseas by oil tankers. One pipeline would carry an average of 525,000 barrels [Read more]
Timeline of major events in Northern Gateway application process
VANCOUVER - Milestones in the Northern Gateway project: March 6, 2002: Calgary-based Enbridge (TSX:ENB) announces preliminary plans for a pipeline linking the Alberta oilsands to the West Coast. April 14, 2005: The company announces a deal with PetroChina Co. to transport oil from Alberta to the B.C. coast for export. The pipeline is expected to be in operation in 2010. Nov. 1, 2006: With the National Energy Board process already underway, Enbridge announces it will delay Northern [Read more]
Facts about Northern Gateway
VANCOUVER - Some facts about the Northern Gateway project:Cost: Estimated to be $7 billion, but that figure has been increasing.Route: Twin pipelines would run 1,177 kilometres from Bruderheim, just outside Edmonton, to a tanker port in Kitimat, on the northern coast of B.C.Oil: A westbound pipeline would carry up to 525,000 barrels a day of synbit, a blend of refined synthetic oil and bitumen, two types of dilbit and synthetic oil to Kitimat for export.Condensate: A second pipeline heading east [Read more]
Oil slips as U.S. deploys small force to Iraq amid worsening violence
The price of oil dropped Tuesday after the U.S. said it was deploying a small group of troops to Iraq, which helped soothe fears somewhat over the prospect of a broader conflict that could disrupt crude supplies. Benchmark U.S crude for July delivery dropped 29 cents to US$106.61 a barrel in electronic trading on the New York Mercantile Exchange. The contract lost 1 cent to settle at $106.90 on Monday. Brent crude, a benchmark used to price international oils, fell 33 cents to $112.61 a [Read more]
Feds’ final decision on Northern Gateway later today
VANCOUVER - The federal government will announce its much-anticipated decision on the Northern Gateway pipeline after markets close today. Under its own rules, the Conservative government has a June 17 deadline for the final word on whether the 1,200-kilometre pipeline can be built linking the Alberta oilsands to a port on the British Columbia coast. A joint review panel of the National Energy Board and the Canadian Environmental Assessment Agency released a report in December recommending [Read more]
Keystone XL decision shouldn’t be symbol of Cda-US relations: Hillary Clinton
TORONTO - Washington's long-awaited decision to approve or reject the Keystone XL pipeline should not become a symbol of the relationship between the United States and Canada, former U.S. secretary of state Hillary Clinton said Monday.Speaking before a business crowd of roughly 1,800 in Toronto, Clinton said the controversial project — designed to move Alberta crude oil to the Gulf Coast — has become "a proxy for everything" as proponents and critics lock horns over its fate."However this [Read more]
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