Latest news with #pipeline
National Post
3 hours ago
- Business
- National Post
Bell: Danielle Smith and Alberta give Mark Carney an offer he shouldn't refuse
It is a letter. A five-page letter. Article content You could call it THE letter. Whatever happens with this letter will play a big, big part in Alberta's place in Canada going forward. Article content It is dated May 16, signed by Alberta Premier Danielle Smith and addressed to Prime Minister Mark Carney. Article content On Monday, June 2, this letter will be on the table when Carney sits down with the premiers in Saskatoon. Article content Article content Before Smith gets around to making her offer, she begins her letter to Carney talking about how what Alberta wants will 'address serious issues plaguing Canada's economic well-being and the very real sense of alienation felt across the West.' Article content Article content This is serious stuff. Alberta has had more than enough. Article content She says Asian customers in Japan and South Korea have told her they believe Canada needs to 'accelerate market access of our oil, LNG, ammonia and critical minerals faster.' Article content 'We must build on what TMX delivered by creating another pipeline that delivers similar economic uplift, jobs, opportunities for reconciliation and Canadian security.' Article content Article content The premier says an oil pipeline has to be on Carney's list of nation-building projects to be fast-tracked. Article content It will also … and read between these lines … 'send an unwelcome signal to Albertans concerned about Ottawa's commitment to national unity.'
CTV News
19 hours ago
- Business
- CTV News
Trans Mountain could take on more pipeline projects if private sector can't: CEO
Crude oil tankers SFL Sabine, front left, and Tarbet Spirit are seen docked at the Trans Mountain Westridge Marine Terminal, where crude oil from the expanded Trans Mountain Pipeline is loaded onto tankers, near a residential area in Burnaby, B.C., Monday, June 10, 2024. (THE CANADIAN PRESS/Darryl Dyck) The CEO of Crown-owned pipeline operator Trans Mountain Corp. says it could take on other market-expanding pipeline projects if necessary, but that it would be preferable for the private sector to take the lead. Trade tumult in recent months with the United States — Canada's biggest customer for its crude oil — has intensified calls for Canada to build infrastructure that would allow its resources to flow to other global buyers. When the expanded Trans Mountain pipeline began shipping Alberta crude to the B.C. Lower Mainland just over a year ago, oilsands producers were finally able to meaningfully access lucrative Asian markets. Trans Mountain CEO Mark Maki said in an interview Friday there's an appetite for more pipeline egress to the Pacific coast and elsewhere. 'The U.S. is a great customer. It will always be a great customer, but diversification of markets for the country is important,' he said. He said Trans Mountain's owner — the Government of Canada — would prefer the private sector lead the way. 'If that can't happen, and it's in the national interest, Trans Mountain is here,' Maki said. His remarks came after Trans Mountain reported its operational and financial results for the first three months of 2025. Since oil started flowing through the expansion in May of last year, 266 crude vessels have been loaded, and third-party information suggests the destinations have been split between the U.S. West Coast and Asia. The expanded pipeline shipped an average of about 757,000 barrels per day during the quarter — below its capacity of 890,000 barrels per day. Maki said if the pipeline were running full, western Canadian heavy crude would see a steeper price discount against the easier-to-refine light crude sold on the global market. That would eat into the margins of Alberta producers. 'You really don't want us 100 per cent full … What's important really is to keep a little bit of slack in the system,' he said. As of now, the supply of crude hasn't caught up with takeaway capacity. 'But when that happens, the crude differential blows out. And so having a little bit of wiggle room is important.' Trans Mountain said there are economical ways to boost the pipeline's capacity if needed, such as adding chemical agents to reduce friction, which would enable more crude to flow through the line. Other options could include adding pumping horsepower or pipe segments. Those projects could together add up to 300,000 barrels per day of capacity. Trans Mountain said quarterly net income was $148 million, down from $158 million a year earlier. Its earnings before interest, taxes, depreciation and amortization — a measure it says reflects the performance of its underlying business — were $568 million, compared to the $36 million it brought in a year earlier, before the pipeline expansion had started up. During the quarter, $311 million was paid to its parent Canada TMP Finance Ltd., which is itself owned by the Canada Development Investment Corp. That consisted of $148 million in interest payments and $163 million in cash dividends. The original Trans Mountain pipeline has been operating since the 1950s. In 2013, U.S. energy company Kinder Morgan filed a proposal to expand it at a cost of $5.4 billion, touching off a contentious regulatory review process marked by protests and legal challenges. Kinder Morgan suspended work in 2018 and shortly thereafter sold the pipeline to the federal government for $4.5 billion. By the time the expansion project was completed, its cost had ballooned to $34 billion. Maki said there's no hurry to bring Trans Mountain back into private hands. He said the expanded pipeline should get a little more operating history under its belt so a potential buyer can ascribe the proper value to it. A dispute over the tolls customers pay to use the line, currently before the Canada Energy Regulator, also needs to be sorted out, he said. There is also interest in potential Indigenous equity ownership in the line — when the time is right. Trans Mountain is in a 'transitional' year where it is starting to pay dividends and is continuing some of the cleanup work from the pipeline construction. Next year will be a 'much more normal' one, Maki said. 'And so really probably at that point and out would make sense to start thinking about that.' This report by The Canadian Press was first published May 30, 2025. Lauren Krugel, The Canadian Press
CBC
a day ago
- Business
- CBC
Does Canada need another pipeline?
Coming up on Cross Country Checkup ... As Canada's trade war with the US continues, Mark Carney says he wants to fast track a slew of big resource projects including pipelines. Does Canada need another pipeline? Plus, Support grows for mandatory school vaccination as measles cases continue to rise. What conversations are you having about measles vaccination? What questions do you have? Join Ian Hanomansing on CBC Radio One, CBC Listen and CBC News Network. Call Checkup at 1-888-416-8333, or text 226-758-8924 or go to .
Reuters
2 days ago
- Business
- Reuters
Japan to send a senior official to Alaska energy conference
TOKYO, May 30 (Reuters) - Japan's Economy, Trade and Industry Minister Yoji Muto said on Friday that a senior official will attend an energy conference in Alaska early next week, where the proposed $44 billion Alaska LNG project is expected to be discussed. Takehiko Matsuo, the ministry's Vice-Minister for International Affairs, will participate in the Alaska Sustainable Energy Conference, scheduled for June 3-5, Muto said. The conference starts the day after talks scheduled by the Trump administration, which invited officials from Japan, South Korea and Taiwan to Alaska to discuss projects including a vast gas pipeline, as Asian governments consider U.S. investments in the hopes of relief from Washington's tariffs. It was not immediately clear whether Matsuo would attend the event on June 2, which will be hosted by Trump's energy czar, Interior Secretary Doug Burgum, and Energy Secretary Chris Wright. Muto said Japan has been in communication with the U.S. regarding pipeline construction and other issues, adding, "I expect meaningful discussions will be held this time as well." Japan's biggest LNG buyer JERA has sent an "expression of interest" to Glenfarne in the Alaska LNG Project, Bloomberg News reported on Friday. Glenfarne is the development partner of state-run Alaska Gasline Development Corporation (AGDC). South Korea will send its Deputy Minister for Energy Policy and other energy ministry officials to the Alaska Sustainable Energy Conference, the ministry said on Thursday, as some Asian countries consider investing in the Alaska LNG project. Meanwhile, Friends of the Earth Japan said on Thursday that more than 150 groups from Japan and around the world sent an open letter to the Japanese Prime Minister urging the country not to join the costly Alaska LNG project. "For Japan, Alaska LNG is absolutely unnecessary. Japanese companies resold 37% of LNG they handled because Japan is buying LNG much more than it needs," said Hiroki Osada, a campaigner at Friends of the Earth Japan. "Starting another new LNG project is already a horrible decision considering this, but it is even more outrageous given it also exacerbates climate change beyond threshold, and destroys the indigenous way of life and the biodiversity in Alaska," he added.
E&E News
2 days ago
- Business
- E&E News
Williams restarts push for major Northeast gas pipelines
Pipeline giant Williams Cos. said Thursday that it's reviving two abandoned natural gas pipeline projects in the Northeast, seeking to capitalize on President Donald Trump's support for fossil fuel projects. The Oklahoma-based company said it has renewed discussions with state and federal regulators once again on the Constitution pipeline — which would run from central Pennsylvania into upstate New York — and the Northeast Supply Enhancement project, an expansion of the Transcontinental pipeline network serving the Eastern Seaboard. 'The NESE and Constitution projects are essential to address persistent natural gas supply constraints in the Northeast, constraints that have led to higher energy costs for consumers and increased reliance on higher-emission fuels like fuel oil,' Williams said in an emailed statement. Advertisement Williams had previously signaled it could be interested in reviving its Constitution project, but only if there was customer demand and the company saw support from Northeastern governors.
