Alberta Government and Industry Considering C$7 Billion Oil Sands Refinery
15 October 2005
|Location of the proposed refinery near Redwater, Alberta|
National Post. The provincial government of Alberta, Canada, and 16 oil and petrochemical companies are evaluating a proposal to build a new C$7 billion (US$5.9 billion) refining and chemicals complex in the central part of the province to handle oils sands output.
The refinery, with an initial capacity of 300,000 barrels per day, extendable to 450,000 bpd, would upgrade the bitumen extracted from oil sands into finished product: about 70% fuel products, 30% petrochemicals.
Diesel, the primary fuel product, would be shipped by pipeline to Prince Rupert on the coast of British Columbia for export to Asia. Gasoline and kerosene would be exported to markets in North America.
The refinery would be the largest in Canada, the first to be built in North America in 25 years and, at 450,000 bpd, on a par with the largest refineries in the Gulf of Mexico.
The project study, led by the Alberta government, is backed by companies such as Agrium, BP, Canadian Natural Resources Ltd., Enbridge Inc., EnCana Corp., Nova Chemicals Ltd., Petro-Canada, TransAlta Corp. and TransCanada Corp., is due for completion early next year.
According to the Alberta Economic Development agency, there are currently some C$70 billion (US$59 billion) worth of oil-sands-related projects underway or planned.
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