Alberta Energy Minister Outlines 1 MMB/d Pipeline Push and Oil Production Growth Goals
According to the ARC Energy Research Institute, Alberta Energy and Minerals Minister Brian Jean outlined the province’s energy growth ambitions in a podcast recorded at an ARC Financial event in Calgary on June 9. Topics included Alberta’s oil production growth goals, the impact of the Strait of Hormuz closure on Canadian energy demand, and the status of a Canada-Alberta MOU that proposes submitting a 1 MMB/d oil pipeline to reach Asian markets to the Major Projects Office, with a regulatory review targeted to begin by early July.
What It Means for Subcontractors
- The proposed 1 MMB/d pipeline to Asian markets, if it advances through the Major Projects Office, could represent a major source of construction and field services work for Western Canadian subs over the next several years.
- Regulatory momentum and more supportive federal policies, as cited in the podcast, may accelerate final investment decisions on oil sands and pipeline projects that have been stalled.
- Subs active in BC and Alberta should watch for developments on Indigenous and BC government consultations, which Minister Jean flagged as part of the pipeline path forward.
