Energy Sector Investment Bound for Alberta


Energy Sector Investment Bound for Alberta

Posted on Friday January 20, 2017 at 09:57AM

Industry experts agree that renewed confidence could result in major industrial growth

Edmonton, Alberta (January 19, 2017) – Energy experts and business leaders highlighted a renewed confidence in Alberta at today’s annual Stakeholder Luncheon. A capacity crowd heard from industry speakers from across the continent who explored trends in energy sector innovation and investment.

Hosted by Alberta’s Industrial Heartland Association, the annual event brings together over 600 leaders in business, industry, and government. Investor confidence was a key focus. In the past year alone, several project announcements, infrastructure approvals, and government programs spurring investment all combine to signal that near term future growth is likely.

“Investment is happening across the globe. Companies are spending money where the opportunity is greatest,” commented Ed Gibbons, Chair of Alberta’s Industrial Heartland Association. “We know Alberta has challenges. We also know that Alberta’s Industrial Heartland is an invaluable energy hub and the country’s largest hydrocarbon processing region. When you consider the energy sector projects that have recently taken a step forward, you can’t help but feel that momentum is building and investors are taking note.”

Project Updates Highlight $9 Billion in Proposed Investment
Two companies with plans to build major propane processing facilities in the region – Inter Pipeline Ltd and Pembina Pipeline Corporation – both provided highlights of their current activities. These projects, combined with ATCO Power’s planned Heartland Generating Station represent a total proposed capital investment of approximately $9 billion and 6,000 jobs for the region. This is in addition to the $10.2 billion in industrial projects recently completed or underway, including the $8.5 billion Sturgeon Refinery.

Along with industrial project construction, discussion featured the popular topic of diversifying the economy and increasing the value of Alberta’s energy resources. Highlights included partial upgrading of bitumen, carbon capture and storage, petrochemical processing to produce higher value products, and production of premium grade fuels.

“Alberta’s Industrial Heartland is helping prove that Alberta is the energy leader the world needs for the 21st century. Their commitment to innovation and collaboration made it possible to create thousands of jobs and attract major capital investments through initiatives like our Petrochemical Diversification Program. Together we will continue building an economy for the future,” shared Honourable Deron Bilous, Minister of Economic Development and Trade.

As a long standing supporter of energy resource value adding, Alberta’s Industrial Heartland Association recognizes industry and government efforts to diversify the energy sector in an innovative and sustainable manner.

Read the Full Media Release

Author: Lamont County Now


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