Finance
Varcoe: As Oct. 1 deadline nears, premier expects West Coast pipeline to be deemed a nation
Alberta Premier Danielle Smith announced that the province anticipates a federal decision by October 1 on whether the West Coast pipeline project will be
Key takeaways
- Alberta anticipates a federal decision on the West Coast pipeline project by October 1.
- The federal productivity mega deduction will help improve oil and gas industry cash flow levels.
- Bill C-39 will provide a "one project, one review" assessment process completed within one year for non-designated projects.
- Imperial Oil has the potential to double its gross operated upstream production under a supportive framework.
- Alberta is expected to announce a new royalty framework in mid-November.
Alberta Premier Danielle Smith announced that the province anticipates a federal decision by October 1 on whether the West Coast pipeline project will be designated a project of national significance. The project requires members of the Oil Sands Alliance, including Suncor, Imperial Oil, Canadian Natural Resources, and Cenovus Energy, to increase output and advance the Pathways carbon capture network. Recent supportive developments include the federal government's Bill C-39 to streamline regulatory reviews and an expanded federal capital asset deduction incentive.
The designation would fulfill a key MOU condition to advance the major pipeline project.
In their words
“At the moment, we’re anticipating a decision by Oct. 1”
“So I think there has to be a yes, and it has to be on time.”
By the numbers
- Oct. 1
- Expected timeline deadline for the pipeline decision
- Bill C-39
- Federal bill providing a one-year assessment process
- mid-November
- Expected announcement of a new royalty framework
How it unfolded
- Pathways Alliance booth shown at trade show
- Carney government announced expanded federal incentive
- Premier Smith spoke at Calgary Chamber talk
- Expected deadline for West Coast pipeline decision
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Common questions
- What happened with West Coast pipeline project?
- Alberta anticipates a federal decision on the West Coast pipeline project by October 1.
- Where can I read the original report?
- Read the full report at Google News.
