Tariff threats making Canadians more open to energy projects: Pembina Pipeline
Global News
'The global landscape is shifting rapidly. In recent weeks, it’s become clear our relationship with America has fundamentally changed — and we must act with urgency,' CAPP said.
U.S. tariff threats are making politicians and the general public more receptive to Canadian energy infrastructure projects, the chief executive of Pembina Pipeline Corp. says.
“Hopefully with what’s happening, it will be obvious to the country that these projects need to get built and so we think that there’s definitely positive tailwinds,” Scott Burrows said Friday on a conference call with analysts to discuss his company’s latest results.
U.S. President Donald Trump has promised to slap 25 per cent tariffs on all imports from his country’s neighbours, except for energy which will face a 10 per cent tariff. The move was delayed by about a month until March 4 after Canada and Mexico agreed to new border security measures, but Trump said on Thursday he hadn’t seen any progress.
The Canadian Association of Petroleum Producers released an “energy platform” on Friday that outlines steps Ottawa should take as the trade relationship becomes more volatile.
They include many measures the industry has long been pushing for, such as streamlining project approvals, advancing emissions reductions technologies and diversifying market access.
Chris Scherman, Pembina’s senior vice-president of marketing and strategy, said the company’s position on the B.C. coast provides somewhat of a shield as the Canada-U. S. trade relationship grows more fraught.
The Calgary-based midstream company, whose business is largely based on oil and gas processing and shipping, has a rail-accessible marine export facility for propane in Prince Rupert, B.C., and wharfs at the Port of Vancouver.
Pembina is also pursuing a floating liquefied natural gas terminal in Kitimat, B.C., in partnership with the Haisla Nation. The Cedar LNG project, which would enable Canadian gas to be sold in global markets, is expected to cost US$4 billion and be up and running in late 2028.
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