Government of Alberta/YouTube

By rdnewsNOW Staff

BUSINESS

Alberta forming working group with Enbridge to increase oil production

Jan 6, 2025 | 2:57 PM

The Alberta government has signed a letter of intent with Enbridge, which will form a working group with the Alberta Petroleum Marketing Commission.

The group is expected evaluate future egress, transport, storage, terminalling and market access opportunities across more than 29,000 kilometres of the Enbridge network in an effort to move more Alberta oil and gas to Canadians and American partners, officials say.

The government says Alberta currently delivers more than 4.3 million barrels per day to the U. S., but it hopes to increase that through preserved and added pipeline capacity and increased crude oil production.

“The world needs more Alberta oil and gas, and we need to make sure Alberta is meeting those needs,” Premier Danielle Smith said in a news release.

“Our objective of doubling oil production aligns with Enbridge’s plans to enhance its existing pipeline systems and we look forward to partnering with them to enhance cross-border transport solutions. This will also allow us to play a role in supporting the United States in its energy security and affordability goals.”

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Additionally, the working group will collaborate with the government in an effort to cut red tape and streamline regulations and permitting approvals. It will also address opportunities for shared investment and benefit to both Albertans and Enbridge by leveraging BRIK (Bitumen-Royalty-In-Kind) barrels.

“A strong and growing Alberta oil and gas transport and storage network will allow the Government of Alberta to maximize the economic benefits for all Albertans from our bitumen and natural gas royalties,” said Brian Jean, energy and minerals minister.

“We must also pursue regulatory reform where needed so Alberta can continue to be an attractive place for companies to invest.”