Mackenzie Gas Pipeline Project cancelled

[Joanna + 68]

Imperial Oil says its much-delayed $16.1-billion project to build a natural gas pipeline across the Northwest Territories from the coast of the Beaufort Sea to northern Alberta has finally been cancelled.

[JohnAtronis + 78]

project initiated 17 years ago could not make money in the current North American natural gas market, now well-served with gas from American and Canadian shale gas plays.

[Meanwhile + 49]

13 years to try to maneuver through Canada's regulatory process. No wonder investors are going elsewhere.

[JohnAtronis + 78]

Just another example of industry dragging the north around by the nostrils. 

[Meanwhile + 49]

Just now, JohnAtronis said:

Just another example of industry dragging the north around by the nostrils. 

There is no political will in to support or promote private investment of any kind. Whether it be regulatory constraints, social license, or a putative tax regime, there are just better places for investors to get a return on their capital.

[Joanna + 68]

I understand that the majority of the native indigenous population want this pipeline to be built

[JohnAtronis + 78]

That is fine. USA has plenty of Natural Gas to sell to Canada. Suckers.

[Joanna + 68]

3 minutes ago, JohnAtronis said:

Just another example of industry dragging the north around by the nostrils. 

With oilsands and increased global supply, no reason to forge further with petro resource exploitation in the fragile north.

[JohnAtronis + 78]

5 minutes ago, Meanwhile said:

13 years to try to maneuver through Canada's regulatory process. No wonder investors are going elsewhere.

The amount of time  is shameful. The Liberal government of the day just kicked the can down the road to avoid a decision that would anger any voter

[Stephen + 67]

Most of Canadas natural gas is found in B.C. which has has lots of coast. So, why do they need a line up the MacKenzie?

[Stephen + 67]

8 minutes ago, JohnAtronis said:

That is fine. USA has plenty of Natural Gas to sell to Canada. Suckers.

It will be less expensive to ship the resources from the arctic by sea, which is far less disruptive

[Stephen + 67]

16 minutes ago, Joanna said:

Imperial Oil says its much-delayed $16.1-billion project to build a natural gas pipeline across the Northwest Territories from the coast of the Beaufort Sea to northern Alberta has finally been cancelled.

Canada currently is not an attractive investment, that's all. Its a very simple situation that has been made difficult.

[Stephen + 67]

51 minutes ago, Meanwhile said:

There is no political will in to support or promote private investment of any kind. Whether it be regulatory constraints, social license, or a putative tax regime, there are just better places for investors to get a return on their capital.

I'm not anti-pipeline, but projects like this would facilitate the destruction of the north.

[Joanna + 68]

1 minute ago, Stephen said:

I'm not anti-pipeline, but projects like this would facilitate the destruction of the north.

On the contrary, the route for the Mackenzie Valley Pipeline is being used for an all weather road from the south to Inuvik. The NWT government builds bridges over the rivers then the road between the bridges. It's a long term project, but it cuts the cost of living dramatically.

 

[Stephen + 67]

Vast investments in a shrinking market.