31 December 2009 14:48 [Source: ICIS news]
TORONTO (ICIS news)--Canada’s long-delayed Mackenzie Valley natural gas pipeline project can go ahead, subject to a number of recommendations, a government-appointed panel said in its report findings on Thursday.
Canadian petrochemicals producers have been looking to the 1,200km pipeline, and another planned project from ?xml:namespace>
The Joint Review Panel, which has been reviewing the project’s socio-economic and environmental impacts for a number of years, said the pipeline would have clear economic benefits for
The report noted that the chemical industry was among the beneficiaries, but added that so far none of the Mackenzie proponents – led by Imperial Oil, the Canadian arm of ExxonMobil – have made arrangements to market the gas.
The panel’s report lays down a large number of recommendations to mitigate adverse environmental impacts, including a suspension of construction for five months every year to protect wildlife.
The report will now go to the National Energy Board, a federal energy regulator, which was expected to conduct further hearings before making its recommendation to the government.
The project had been of high interest in the earlier part of the decade when North American natural gas prices soared, but it later stalled amid soaring construction costs and lower gas prices.
ExxonMobil chief executive Rex Tillerson said in 2007 that both the
The project was previously estimated to cost some Canadian dollar (C$) 7.5bn ($7.1bn), but analysts now put that at over C$16bn.
Meanwhile, observers have warned that chemical producers in
Major chemical firms with production in
The detailed two-volume report and an executive summary can be downloaded from the panel’s website.
($1 = C$1.05)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections