The Globe and Mail reports that Canada is proposing to support the carbon-capture projects of oil-sands companies.
The Globe and Mail reported that Canada Growth Fund, the federal funding agency of Canada, has proposed to fund a multi-billion dollar carbon-capture project by Pathways Alliance. The Alliance represents Canada's largest oil sands producers. According to a report published on Sunday, which cited sources familiar with this matter, the CGF's offer is likely to start further negotiations. However, the final agreement is still months away as the two sides are at odds on certain key terms.
Petronas' Canadian Unit to Look at other LNG Opportunities
Progress Energy, a wholly-owned unit of Malaysia's Petronas, will look at other liquefied natural gas opportunities as a way to monetize its Canadian gas assets after Petronas scrapped a $29 billion LNG project this year, a company executive said on Wednesday. Petronas, the Malaysian state-owned energy company, abandoned plans to build the Pacific Northwest LNG plant in northern British Columbia in July due to weak prices…
Kinder Morgan Canada Shares Drop
Shares in Kinder Morgan Canadian debuted at C$16.06 on Tuesday on the Toronto Stock Exchange after raising C$1.75 billion ($1.3 billion) in an initial public offering (IP0) at C$17.00 each last week. Kinder Morgan spun off its Canadian unit to part-finance the expansion of Trans Mountain pipeline, but political opposition to the project is set to mount after an election this month in the province of British Columbia…
Ontario will Invest $5.4 bln to Cut Carbon Footprint
The government of the Canadian province of Ontario plans to spend more than C$7 billion ($5.41 billion) over four years from 2017 in a bid to cut the province's carbon footprint, the Globe and Mail reported on Monday. The province will begin to phase out natural gas for heating, provide incentives to retrofit buildings and give rebates to buyers of electric vehicles, according to a Climate Change Action Plan reviewed by the newspaper.
ExxonMobil to Invest $25b in Canadian LNG Export
U.S. energy giant Exxon Mobil Corp could spend up to $25 billion on a British Columbia LNG terminal project to export liquefied natural gas. Exxon counts on its global expertise to make the Canadian project viable, says a report in the Globe and Mail. Malaysia’s state-owned Petronas is widely viewed as the front-runner among 18 entrants in the race to export LNG from the West Coast. Exxon is positioning itself to make up ground on Petronas.
