Canada’s oil sands can make a positive contribution to meeting global energy demands and Canada’s economy benefits from exports. As Canada’s largest energy company and the largest producer in Alberta’s oil sands, we support the development of infrastructure that opens access to new markets, including expanded connectivity to the United States.
We have an interest in all the major pipelines that are currently proposed (Energy East, Keystone XL, Northern Gateway, and TransMountain), but no single pipeline will affect Suncor’s ability to execute our growth plans for the future. And because pipeline projects take several years to develop, approve and construct, it also makes sense for us to tap into rail and marine networks to transport our products.
Key 2015 highlights include:
- Enbridge’s line 9 reversal was commissioned during 2015 with the first delivery of crude to Suncor’s Montreal refinery in December. The reversal provides us with the flexibility to supply our Montreal refinery with a full slate of inland priced crudes.
- Suncor continues to support the Northern Gateway project, whereby 31 Aboriginal equity partnerships have been formed to date.
- Optimization of Suncor’s midstream assets added approximately $2 per barrel in value to our oil sands production.
- On July 17, 2015, the Canadian premiers released the Canadian Energy Strategy. While it’s not a license to build pipelines, market access received support in three of the ten focus areas of the strategy. By linking hydrocarbon pipelines with electricity transmission lines, the document contains strong support for market access, regulatory efficiency and the construction of new hydrocarbon transmission infrastructure.