MNI BRIEF: Carney's 2nd Big Project List Has No Oil Pipeline

Canadian Prime Minister Mark Carney on Thursday left an oil pipeline off his second batch of projects under consideration for rapid approval, at a time when its political backers in Alberta have failed to find a private investor to build one.

The latest projects worth CAD60 billion include the Ksi Lisims Liquified Natural Gas project in British Columbia, which Carney said will become Canada’s second-largest facility with capacity to ship 12 million tons per year to new markets in Asia. The list also includes the Iqaluit Nukkiksautiit hydro project; Canada Nickel’s Crawford Project in Ontario; Nouveau Monde Graphite’s Matawinie Mine in Québec; and the Northcliff Resources’ Sisson Mine in New Brunswick. 

The government referrals to the Major Projects Office open a path for their approval with the goal of a final permit within two years, cutting down reviews that sometimes lasted more than a decade. The first batch of projects was announced in September. 

Alberta Premier Danielle Smith has started a process to hold a referendum on leaving Canada as soon as next year citing Canada's landlocking of its oil reserves, and she told MNI a big reason investors are hesitant are restrictive federal policies. (See: MNI INTERVIEW: Alberta Says BC Pipeline Must Be Fast-Tracked)