Premier Rachel Notley and the Government of Alberta are looking for investors who would be interested in building a new refinery, or adding onto an existing project, as a way to get more value for our oil here at home.
Notley says the government is issuing a Request for Expression of Interest to determine if there are any private companies that are interested in building a new refinery in Alberta.
“For decades, Albertans have been talking about getting more value for our oil here at home," said Notley. "So let’s stop the talk, end the decades of dreaming and start making more of the products the world needs here at home. It’s time to grab the bull by the horns and to do more refining and upgrading that adds value and creates jobs here. The future is coming and it will be made in Alberta.”
She adds building a new refinery would create good-paying, long-term jobs for Albertans.
New refining capacity would also help lower the oil price differential over the long term, protecting the province from a lack of capacity to export oil, and making sure we get full value for the energy resources owned by all Albertans.
The government will consider interest in new greenfield investments or an expansion of facilities at an existing brownfield site.
Submissions will be accepted until Feb. 8, 2019, with the results helping inform next steps that may include issuing a Request for Proposals to construct a new refinery.
Companies will be required to submit their engineering design and technical feasibility, project timing and execution plan, plans for sales points and transportation to market, participation of Indigenous communities, expected environmental performance, financing to complete the project, and identification and estimates of revenues to benefit Albertans.
Expressions of Interest have been used in the past to obtain industry and public suggestions on major projects and how the government can utilize existing interest to maximize the value for Albertans.
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