The previous Energy East pipeline panel stepped down amidst questions about a potential conflict of interest last year. Towerbirch Expansion Project The Government has approved the project, subject to 24 binding conditions that will help ensure the project operates safely. Currently, three major oil pipeline projects are proposed or underway in Canada. Chayten is a student at UBC entering his final year in September. TC Energy previously stated that construction would start Summer 2019, permits did not hold up in court. Construction began in Summer 2017 in Canada. The court stated that there was not enough information regarding potential marine impacts of the pipeline and increased tanker traffic. The review panel will examine a proposed 4,500-kilometre pipeline that would carry 1.1-million barrels of crude oil per day from Alberta and Saskatchewan to refineries in Eastern Canada and a marine terminal in New Brunswick. However, TransCanada is waiting for federal permits to cross federal lands and waterway permits. However, factoring in delays, the cost has now jumped 14% to $8B USD. An expected two-year build time results in a COD later than Summer 2021. The exact final route has not been completely decided, but the routes depicted are based on maps submitted in Kinder Morgan's application to the National Energy Board in December 2013. The existing pipeline is shown in yellow, the proposed preferred new pipeline corridor route is shown in red and alternate routes being considered are in light purple. [xxxiv], The Keystone XL pipeline was originally projected to cost $7B USD. In addition, the Federal Court of Appeal said the project needed more consultation with First Nation communities.[xxx]. Gathering pipelines, feeder pipelines and transmission pipelines transport crude oil, natural gas and liquefied natural gas from wells to collection points, across provincial and national borders. … The results are expected to be released shortly. Finally, the project will produce more than $5.2B of property tax revenue during its lifetime. In November 2018 the Montana Federal Court (Judge Brian Morris) ruled the project required further review and subsequently blocked the project/halted construction. He is also pursuing the CFA Level 1 exam in June. [xxxix], Keystone XL committed shippers include Canadian Natural Resources, Suncor Energy, Cenovous Energy, and the Province of Alberta (Alberta receives a small portion of crude in lieu of a cash royalty). Atlantic coast). You may have to register before you can post: click the register link above to proceed. The Governor (Tim Walz) and the State’s commerce department requested the Minnesota PUC to reconsider its approval of Line 3. In March 2018, the Canadian Federal Government announced it was acquiring the Trans Mountain Pipeline from Kinder Morgan for $4.5B. Eighteen liquefied natural gas proposals were proposed in northern BC in 2013/2014, making the scale of proposed development unprecedented. So far, this amounts to a 20-year commitment of a combined 500,000 bbl./day.[xl]. There are more than 840,000 kilometres (km) of transmission, gathering and distribution pipelines in Canada — including 117,000 km of large-diameter transmission lines — with most provinces having significant pipeline infrastructure. However, over its life the pipeline has sustained frequent structural faults and therefore can only ship 370,000 bbl./day as of 2019. Pacific coast) and a further 49.3 million metric tonnes per annum for Eastern Canada (i.e. The Enbridge Northern Gateway Pipeline, if approved, would put at least 30 Important Bird Areas at risk, most from oil spills, and fragment habitat for the critically endangered mountain caribou. This increased capacity from 260,000 bbl./day to 300,000 bbl./day[xx][xxi]. To do this, it is essential for Canada to build new pipelines, Liquid Natural Gas (LNG) terminals and marine transport facilities. [x], The Minnesota Public Utilities Commission (PUC) approved the project in June 2018, however the decision was appealed by Minnesota’s governor in February 2019. Although there is no firm date set, analysts are expecting a potential 2022 commercial operation date. Consequently, the COD has been further delayed. Officials stated that environmental review was inadequate and therefore limited the permitting process. As oil prices continue to languish, Canada’s energy producers are grappling with yet another reality: pipelines projects are in a state of limbo. The Keystone XL pipeline offers a more direct route to these refineries [xxxvi] .The new route prevents the need to move east from Alberta to Manitoba before being able to travel south to Steele City, Nebraska. Key shortcomings included inadequate studies on potential impacts of an oil spill in the Lake Superior watershed. Project Reconciliation, an Indigenous-led group, has announced it will be making a $6.9B bid to purchase a 51% stake in the pipeline ($2.3B would go towards a 51% stake in the existing pipeline and $4.6B would be attributed to the expansion project). Click on the map to enlarge. M&A activity in oil and gas has been on a downward trend since 2016 (see Figure 1), with both volume and total deal value on the decline. The following table lists Canada pipelines, as shown on the map.It is followed by the map, which you can click to see an enlarged version.The pipeline routes on the map are labeled with the codes that are explained in the table. This new permit is not contingent on any type of environmental review. The project is finalized. While that project has been approved in Canada, Wisconsin, and North Dakota, it has … Figure 1: YTD oil and gas M&A deal value and volume The government of Alberta mandated production curtailment from January 1 to December 31 2019, indicating that a lack of sufficient pipeline and rail takeaway capacity, as well as sto… These include Northern Gateway, the Trans Mountain expansion, Keystone XL, and Energy East. Energy pipelines transport oil (and natural gas) that’s used to produce electricity, keep our homes warm in winter or to cook our meals. However, Kinder Morgan Canada financial documents suggest the project may cost $9.3B, an increase of $1.9B. [viii], The pipeline will be a mixed-service line carrying a wide variety of crude oil (sweets, light/high sour, and light synthetics). [iv], In Canada the Enbridge Line 3 Replacement project will add an estimated 23,800 temporary full-time jobs (11,000 in Alberta, 9,000 in Saskatchewan, and 3,800 jobs in Manitoba) and an estimated $514.3M in tax revenue during the construction phase. Construction has already been completed in the following areas: The replacement project was expected to be complete in late 2019, however considering recent delays analysts are expecting (at the earliest) a completion date of late 2020. After the 2016 election, President Trump invited TransCanada to resubmit their application and approved the application in Spring 2017. [xviii], The current Trans Mountain Pipeline system began operating in 1953 and spans 1,150 km. In February 2019, Judge Morris also blocked TransCanada’s request to begin constructing worker camps. Shovels are expected to break ground this construction season [xxxii]. In Canada, a public review of a proposed pipeline project through an area of exceptional importance for marine birds is entering its final stages. A projected 106 deals at a total value of $13B expected for 2019 would represent the lowest activity in oil and gas M&A in five years. Prior to that, Chayten was an Acquisitions/Investment Management Analyst (Co-op) at Bentall Kennedy. The combined revenue impact for construction and first 20 years of operations is $46.7B in provincial and federal taxes with BC collecting $5.7B, Alberta collecting $19.4B, and the Canadian Federal Government collecting $21.6B. Alberta’s problem has long been a lack of pipeline capacity, which has resulted in Alberta oil selling at a discount. Finally, this will crease 15,000 temporary construction jobs [xxv] and 37,000 full-time operation jobs (direct, indirect, and induced jobs). In 2014, Enbridge proposed the construction of a new route for the Line 3 pipeline which would increase the volume of oil they could transport daily. Line 3 is an oil sands pipeline owned and operated since 1968 by Enbridge, a Canadian energy transportation company. In 2004, Kinder Morgan, the previous owners of the Trans Mountain System began constructing a second pipeline (known as the Anchor Loop) running between Hinton, Alberta, and Hargreaves, British Columbia. The project will also bring $100M in development/employment opportunities for Indigenous Minnesota communities. 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