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Mackenzie Gas Project proponents ready to proceed to public hearings
| Calgary, AB,
November 23, 2005
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Imperial Oil, on behalf of the Mackenzie Gas Project proponents, today advised
the National Energy Board that, given recent progress in a number of key
areas, the proponents are now ready to proceed to public hearings on the
proposed project, with the expectation that recently negotiated benefits and
access agreement terms with northern Aboriginal groups will be fully ratified
and executed in December 2005.
"Sufficient progress has been
made in all key areas -- namely clarity of the regulatory process, the
negotiation of benefits and access agreements with northern aboriginal groups,
and fiscal framework discussions with governments -- for us to proceed to
public hearings," said Randy Broiles, senior vice-president, Imperial Oil
Limited. "The letter of November 18 from the deputy-Prime Minister provides us
with sufficient confidence that outstanding matters will be addressed. We are
pleased with the commitment and support from governments and from Aboriginal
communities and leaders in the North, and we look forward to finalizing these
agreements. In addition, benefits and access agreement negotiations for the
Deh Cho territory continue.
"This is a positive decision for
the project in that it helps set in motion the next phase of the regulatory
process -- a full, open discussion and review of the application and the
proposed project by the National Energy Board and the Joint Review Panel,"
said Broiles. "But this is not a decision to build the pipeline. A final
decision to proceed with construction can only be made after obtaining the
necessary regulatory approvals and assessing any conditions attached to those
approvals. A decision to proceed will also be dependent on a number of other
factors, such as final terms of benefits and access agreements, final terms of
agreement on fiscal matters, natural gas markets, project costs, and level of
shipping commitments."
The Mackenzie Gas Project is
being proposed by Imperial, ConocoPhillips Canada, Shell Canada, ExxonMobil
Canada and the Aboriginal Pipeline Group (APG). The APG was formed in 2000 to
enable ownership interest of the Aboriginal peoples of the Northwest
Territories in the proposed Mackenzie Valley natural-gas pipeline,
contributing to a sustainable economic future for the people of Canada's
north. TransCanada PipeLines Limited is helping to facilitate and finance the
APG's ownership, in addition to other support, in the current phase of project
development.
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