VANCOUVER (Reuters) – A Western Canadian pipeline once seen as the best near-term hope for sending more of the country’s controversial tar sands crude to Asia has hit another snag: aboriginal communities intent on using the courts to block the proposed expansion.
Kinder Morgan Energy Partners’ (KMP.N: Quote, Profile, Research, Stock Buzz) C$5.4 billion ($4.8 billion) Trans Mountain expansion would twin a 60-year-old line running from the oil-rich province of Alberta to the coastal city of Vancouver, tripling its capacity.
VANCOUVER, Oct 20 (Reuters) – British Columbia is set to
unveil the details of its long-awaited liquefied natural gas tax
regime within days, which could sway investment decisions on
several proposed export terminals in the Canadian Pacific Coast
The provincial government, which is banking on the nascent
LNG industry to create thousands of jobs and add billions to
government coffers, has promised the legislation will be
introduced this week.
VANCOUVER/CALGARY, Oct 6 (Reuters) – Malaysian state-owned
energy company Petronas said on Monday it could delay
its planned $11 billion liquefied natural gas plant on Canada’s
Pacific Coast by up to 15 years unless it can reach a favorable
tax deal by month’s end.
Petronas said in a statement that the economics of the plant
are marginal and without a favorable tax arrangement with the
province of British Columbia and Canada’s federal government, it
could shelve the project for a decade or more.
VANCOUVER, Oct 2 (Reuters) – British Columbia’s leader is
“very confident” that Malaysia’s Petronas will move
ahead with a liquefied natural gas (LNG) export terminal in the
Canadian province, despite threats from the company that it
could pull out of the roughly $11 billion project.
Premier Christy Clark, speaking with reporters on Thursday,
said meetings this week with Petronas chief executive Shamsul
Azhar Abbas were “productive,” but she declined to put a
timeline on a final investment decision from the state-owned oil
and gas company.
Sept 30 (Reuters) – Enbridge Inc, Canada’s largest
pipeline operator, said on Tuesday it may have to build new
pipeline capacity from its Superior, Wisconsin, storage hub if
oil shipments from Canada and the Bakken shale field of North
Dakota keep expanding.
Speaking at the company’s annual investor day in Toronto,
Guy Jarvis, head of the oil pipeline unit, said Enbridge could
handle up to 500,000 more barrels per day (bpd) on its 2.5
million bpd system once it completes rebuilding its Line 3
pipeline from Alberta to Superior and finishes its Sandpiper
pipeline serving the Bakken in 2017.
VANCOUVER, Sept 18 (Reuters) – Pacific NorthWest LNG, a unit
of Malaysia’s Petronas, still plans to make a final
decision on the construction of a liquefied natural gas (LNG)
facility in northwest British Columbia by year end, the unit’s
president said on Thursday.
Greg Kist, speaking at a Vancouver conference, said the
final investment decision (FID) would hinge on whether the
provincial government comes out with promised tax measures for
the LNG industry before the new year.
VANCOUVER, Sept 16 (Reuters) – A new fee for checked bags
will allow Canada’s Westjet Airlines Ltd to lower
fares, while at the same time help the budget carrier battle
rising costs, its chief executive said on Tuesday.
Gregg Saretsky said the C$25 (US$22.78) fee, announced on
Monday, is in response to consumer demands for lower fares and
the rising number of Canadian travelers crossing the border to
fly from airports in United States.
VANCOUVER, Sept 11 (Reuters) – Chinese investors’ global
hunt for prime real estate is helping drive Vancouver home
prices to record highs and the city, long among top destinations
for wealthy mainland buyers, is feeling the bonanza’s unwelcome
The latest wave of Chinese money, linked in part to
Beijing’s anti-graft crackdown, is flowing into luxury hot
spots. But it has also started driving up housing costs
elsewhere in a city which already ranks as North America’s least
affordable urban market.
VANCOUVER, Aug 18 (Reuters) – The Canadian province of
British Columbia said on Monday it has ordered an independent
review of all tailings ponds at every permitted mine in the
province in the wake of a major spill at Imperial Metals Corp’s
Mount Polley mine.
Minister of Energy and Mines Bill Bennett also said an
independent panel would investigate the tailings dam breach,
which sent billions of gallons of mine waste, or tailings, into
waterways in central British Columbia.
VANCOUVER, Aug 8 (Reuters) – A massive waste spill at a gold
and copper mine in British Columbia could delay, or even derail,
other energy and mining projects planned in the famously “green”
West Coast Canadian province.
The breach of a dam holding back a huge pond of tailings, or
waste materials, at Imperial Metals Corp’s Mount Polley
mine in the province’s Interior region sent billions of gallons
of gray sludge containing metals and minerals coursing into
waterways early this week. On Tuesday, the miner’s stock plunged
40 percent in reaction.