Oil and Gas Markets Still Responding to Dramatic Changes, says NEB Report
April 10, 2014 (Source: CNW) — Today the National Energy Board (NEB or the Board) released its Canadian Pipeline Transportation Report 2014 (Transportation Report). This energy market assessment provides information about the major pipelines regulated by the Board, and assesses the economic functioning of the pipeline transportation system.
The Transportation Report highlights how Canada’s pipeline system has been impacted by the dramatic shifts in oil and gas markets over the last eight years. Technological advances have made large-scale production of shale oil and shale gas economically viable, and alongside the growing shale oil production, Canadian oil sands production continues to grow. As a result, existing oil pipelines are generally full, new oil pipeline projects are underway, and more oil has been moving by rail. New sources of U.S. natural gas are entering Canada through Ontario, reducing throughput on TransCanada’s Mainline from Alberta to markets in the east.
Tolls increased notably on the TransCanada and Enbridge Mainlines. However, tolls on most pipelines were stable from 2008 to 2012.
The National Energy Board is an independent federal regulator of several parts of Canada’s energy industry with the safety of Canadians and protection of the environment as its top priority. Its purpose is to regulate pipelines, energy development and trade in the Canadian public interest.
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