_QR77 Newsroom
11/4/2009
The head of Imperial Oil says the company is still working towards the Mackenzie Valley gas pipeline and says the project is needed as countries look to meet climate change goals and targets.
That, after a report last week indicated a federal cabinet committee rejected a fiscal plan for the project, proposed by Environment Minister Jim Prentice.
C.E.O. Bruce March says his company is still trying to work on agreements with aboriginals regarding access and fiscal plans on the project.
March says despite low prices, natural gas demand will increase 40 to 50% in the next 25 years.
The Mackenzie pipeline, which has been talked about since the 70's, is expected to carry 1.9 Billion cubic feet of gas a day... However, the project has been plagued by delays and cost escalations.
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