Canada’s ongoing billion-dollar oil & gas projects
The oil & gas industry has continued to be key to the Canadian economy through 2017, with a number of major infrastructure projects currently underway across the country.
Here are three of the largest oil & gas projects currently under construction across the country as we head into 2018.
1) Trans Mountain Pipeline Expansion – Kinder Morgan
Despite numerous setbacks and delays from a number of ongoing social and regulatory battles, Kinder Morgan has continued to commit to the completion of its Trans Mountain Pipeline Expansion.
Most recently, the company announced that it would be selling $200mn in shares in the aim of raising the funds necessary to continue the construction of the pipeline that has a current estimated total cost of $7.4bn.
2) Alberta Petrochemical project - Inter Pipeline
Just this week, Inter Pipeline announced that it will be undertaking its largest project to date in the construction of Canada’s first ever propane-to-plastics plant.
Costing $3.5bn, the facility is expected to take 22,000 barrels of propane per day, converting this into 525,000 tonnes of polymer grade plastics annually.
3) Kirby North Phase 1 Oil Sands project – Canadian Natural Resources
Canadian Natural Resources resumed with the Kirby North Phase 1 project in 2016 after the project was put on hold during the current industry downturn.
With the development expected to cost a further $650mn, total investment on the project is forecast to exceed $1.35bn.
The two largest Canadian oil & gas construction projects were abandoned this year, with Petronas having pulled the plug on its $36bn British Columbia LNG Project in July, whilst TransCanada halted the construction of its $16bn Energy East Pipeline Project.