CALGARY, Alberta, May 4 (Reuters) – Delays in building
pipelines to carry oil from the oil sands of Alberta to Canada’s
West Coast for shipment to Asia should not squelch a boom in
investments in the country’s energy resources by Chinese
companies, China’s ambassador to Canada said on F rid ay.
Spending by Chinese state-owned enterprises in Canadian oil
sands and shale gas companies and projects has hit roughly C$20
billion ($20.1 billion), with the first priorities to learn
about the business and show a profit, Zhang Junsai told
reporters after speaking to a conference on Chinese investment
CALGARY, Alberta (Reuters) – TransCanada Corp is taking its second shot at asking Washington to approve the contentious Keystone XL oil pipeline, betting that a new route through Nebraska and post-U.S. election time frame for a decision will push the project forward.
The reapplication to the U.S. State Department on Friday comes after Canada’s largest pipeline company carved the proposal into two parts.
CALGARY, Alberta, May 3 (Reuters) – The native-owned
corporation that would control a third of a long-delayed gas
pipeline in Canada’s Far North is open to discussing the id ea of
a liquefied natural gas project that would allow reserves to be
shipped to Asia to kickstart development, its president said on
Bob Reid, president of Aboriginal Pipeline Group, said the
company is not locked into a particular route and is
“absolutely” willing to talk about ch anging plans to include an
LNG option, an idea that app ears to be building momentum as
North American gas prices languish near 10-year lows.
CALGARY, Alberta, May 1 (Reuters) – The government of
Canada’s Northwest Territories, hit by persistent delays in
development of a C$16.2 billion ($16.5 billion) natural gas
pipeline, could support a liquefied natural gas alternative for
vast reserves in the region’s Mackenzie Delta, one of its
ministers said on Tuesday.
A month after proponents of the Mackenzie Valley gas
pipeline said they had chopped spending on the project, David
Ramsay, the territories’ minister of industry, tourism and
development, said LNG has to be looked at as an option.
By Bhaswati Mukhopadhyay and Jeffrey Jones
(Reuters) – First-quarter profit at Talisman Energy Inc (TLM.TO: Quote, Profile, Research, Stock Buzz) fell short of estimates as natural gas prices slumped to decade lows, which prompted the Canadian oil and gas producer to cut its full-year budget by 10 percent as it pulls more cash out of dry gas operations.
Talisman also wrote down the value of its troublesome Yme project in Norway by $248 million and removed it from its production forecasts as problems in readying the platform for the North Sea operation persisted.