Investing.com - Financial Markets Worldwide
Black Friday Sale! Save huge on InvestingProGet up to 60% off

Canada extends decision period for oil pipelines

Published 2016-01-27, 04:52 p/m
© Reuters. Canada extends decision period for oil pipelines
CL
-
KMI
-

OTTAWA, Jan 27 (Reuters) - The Canadian government announced
an extension of time for reviewing and deciding on whether to
let two key crude oil pipelines go ahead, in an attempt to spur
deeper consultations and an assessment of greenhouse gas
emissions.
The interim rules are designed to take greater account of
environmental impacts and indigenous groups' points of view for
the two pipelines, which are opposed by environmentalists and
some communities but backed by industry.
It pushes back the deadline for the government to decide on
Kinder Morgan (N:KMI) Inc's KMI.N plan to twin its Trans Mountain
Pipeline to December 2016 from August 2016, signaling that the
review by the National Energy Board (NEB) will still be due by
May.
It also extends the total period for the NEB review and
subsequent government decision of TransCanada Corp's Energy East
pipeline to 27 months from the currently mandated 18 months. The
clock will begin ticking when the NEB starts the hearing
process.
The government also announced a set of interim rules,
including assessing greenhouse gas emissions, for all major
projects, including LNG terminals.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.