FORT MCMURRAY, Alta. — B.C. Gas announced on Tuesday, plans to spend about $1 billion to build a northern pipeline linking the oilsands to refineries in the Edmonton area.
The major project, which still needs to be approved, will result in 450,000 barrels of bitumen daily being moved to refineries for processing.
Construction of the massive pipeline promises to be a boon for the Alberta trucking industry, should the project get approved. It is expected approval would be granted by spring 2003.
It is tentatively slated for completion by mid-2005.
“The Bison pipeline is not a done deal,” warns Randy Ollenberger, pipeline and energy analyst with Merrill Lynch. “But there’s going to be a requirement for incremental pipeline capacity, that’s a virtual certainty.”
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