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Government, opponents weigh in on NEB Trans Mountain decision

Southern Resident Killer Whales. – NOAA Fisheries West Coast on flickr; used under Creative Commons license

The decision by the National Energy Board to approve continued work on the Trans Mountain Pipeline Expansion was welcomed by its owner, the Canadian government, while opponents have suggested that any attempt to restart construction will end with court challenges.

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NEB opens door for continued Trans Mountain work with reconsideration report

A tanker passes through Vancouver harbour from Burrard Inlet. – Flickr - user geoffdude; used under Creative Commons license

The National Energy Board (NEB) has delivered its Reconsideration report to the Government of Canada, with an overall recommendation that the Trans Mountain Expansion Project (Project) is in the Canadian public interest and should be approved. 

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Inter Pipeline hits financial and operating records in 2018

Inter Pipeline Ltd., in its financial and operating results for the three and twelve-month periods ended December 31, 2018, announced a record $1.1 billion in funds from operations, a 10 percent increase over the previous year, with its natural gas liquids processing business reaching a record annual FFO of $445 million.

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Operations strong but challenging Canadian industry knocks Cenovus for net loss in 2018

Overall, Cenovus's 2018 upstream financial results were significantly impacted by widening light-heavy oil price differentials, which reached historical highs in the fourth quarter, as well as realized hedging losses of $1.6 billion largely in the first three quarters of the year.

Cenovus Energy Inc. delivered strong operating performance in 2018 but took a financial hit in the process, the company reported in its year-end results release. While solid production continued across Cenovus operations, a $1.3 billion loss in the fourth quarter pushed it to a net loss of $2.9 million for the year.

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Pembina approves Phase VIII of Peace Pipeline Expansion

Phase VIII will include new 10 and 16-inch pipelines in the Gordondale to La Glace corridor of Alberta, as well as six new pump stations or terminal upgrades located between Gordondale and Fox Creek, Alberta.

Pembina Pipeline Corporation has approved an additional expansion of its Peace Pipeline system, which will accommodate incremental customer demand in the Montney area by debottlenecking constraints, accessing downstream capacity, and further enhancing product segregation on the system. Phase VIII has an estimated capital cost of approximately $500 million and is supported by 10-year contracts with significant take-or-pay provisions. Phase VIII is anticipated to be placed into service in stages starting in 2020 through the first half of 2022, subject to regulatory and environmental approvals.

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City request to stop work at Trans Mountain terminal denied by NEB

In its decision, the NEB found that the piping modifications at the Burnaby Terminal are not associated with the Expansion Project and that the relocation and decommissioning Orders appropriately allow Trans Mountain to optimize the site in preparation to offer new services to shippers.

The NEB has rejected a request by the City of Burnaby to rescind two Orders that authorize Trans Mountain Pipeline ULC to undertake pipeline relocations and decommissioning works at its Burnaby Terminal. The decision enables the company to continue its ongoing work to modify existing piping and related infrastructure within the facility.

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T.D. Williamson introduces 4-inch inspection tool for small diameter, low pressure pipelines

According to Tod Barker, Senior Product Manager, Pipeline Integrity, the 4-inch tool overcomes challenges associated with conventional MFL inspections, such as difficulty navigating tight bends and speed excursions that limit data accuracy.

T.D. Williamson (TDW) has commercialized a 4-inch magnetic flux leakage (MFL) + deformation (DEF) + internal versus external discrimination (IDOD) tool that helps ensure pipeline integrity by detecting pitting and general corrosion as well as interacting features such as dents with metal loss in small diameter, low pressure pipelines.   

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TransCanada plans name change to TC Energy

TransCanada Corporation has announced its intention to change its name to TC Energy to better reflect the scope of the company's operations as a leading North American energy infrastructure company. TransCanada's shareholders will be asked to approve a special resolution to change the name at the company's next Annual and Special Meeting of Shareholders.

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Demand to drive Canadian oil prices higher in 2019: Deloitte

Deloitte notes that Canadian oil prices should also strengthen in 2019 because of improved export capacity as a result of the Alberta government's plan to purchase additional rail cars to transport crude oil and the expanded capacity of Enbridge's Line 3 pipeline, which transports a variety of Canadian crude oil to the United States.

Prices for Canadian heavy and light oil should improve somewhat in 2019 because of increased demand from refineries in the United States, improving transportation capacity and mandatory productions cuts in Alberta, according to Deloitte's Resource Evaluation and Advisory (REA) group. In its latest report, Deloitte says these factors should begin to reduce the current oversupply of Canadian oil and help narrow the larger-than-usual differentials with WTI prices that were present in the final quarter of 2018.

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Tidewater announces TransAlta ownership interest in Pioneer pipeline

Tidewater Midstream and Infrastructure Ltd. has announced that TransAlta has exercised its option to acquire a 50 percent ownership interest in the Pioneer pipeline connecting the Tidewater owned Brazeau River Complex to TransAlta's generating units in the Keephills and Sundance area. Tidewater will construct and operate the 120 km natural gas pipeline, with an 11km lateral connecting to Sundance, which will have an initial throughput of 130 MMcf/d with the potential to expand to approximately 440 MMcf/d.  The project is supported by a 15 year take or pay commitment from TransAlta.  TransAlta's investment will be approximately $90 million.  Construction of the 120km pipeline commenced last month and is expected to be fully operational by the second half of 2019. TransAlta's investment is subject to final regulatory approval of the lateral and licence transfers from Tidewater to the partnership.

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TransCanada to sell Coolidge Generating Station for US$465 million

TransCanada Corporation has entered into an agreement to sell its Coolidge Generating Station to SWG Coolidge Holdings, LLC, a wholly owned subsidiary of Southwest Generation Operating Company, LLC, for approximately US$465 million (Cdn$623 million), subject to closing adjustments and customary regulatory approvals. Located in Coolidge, Arizona, the Coolidge Generating Station is a 575-megawatt natural gas-fired power facility that is underpinned by a long-term power purchase agreement (PPA).

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Cenovus’s 2019 budget demonstrates cost leadership and capital discipline

The structural improvements Cenovus has achieved at its oil sands operations have resulted in reduced costs for maintaining base production and adding new production and have positioned the company to create additional value with more efficient use of capital.

Cenovus Energy Inc. remains committed to increasing shareholder value through cost leadership, capital discipline and safe and reliable operations. These commitments, in combination with the company's high-quality upstream assets and joint ownership in strong refining assets, are expected to further strengthen Cenovus's ability to generate free funds flow and continue deleveraging its balance sheet in 2019.

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Innovative solution delivers additional natural gas to eastern markets on Canadian mainline

TransCanada Corporation has secured 675,000 gigajoules (GJ) (630 million cubic feet) per day of new natural gas transportation contracts from the Western Canadian Sedimentary Basin (WCSB) on TransCanada's Canadian Mainline. Its North Bay Junction Open Season resulted in long-term, fixed-priced contracts for service that will reach markets in Ontario, Quebec, the Maritimes and the Northeastern U.S.

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Algonquin Power & Utilities Corp. announces agreement to acquire Enbridge Gas New Brunswick

Algonquin Power & Utilities Corp. announced that its subsidiary Liberty Utilities (Canada) LP has entered into an agreement to purchase Enbridge Gas New Brunswick Limited Partnership , a subsidiary of Enbridge Inc., along with its general partner for C$331 million, subject to certain customary adjustments. New Brunswick Gas is a regulated utility that provides natural gas to approximately 12,000 customers in 12 communities across New Brunswick, and operates approximately 800 km of natural gas distribution pipeline.

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