Hillcrest Energy Technologies. (CSE: HEAT)
From concept to commercialization, Hillcrest is investing in the development of energy solutions that will power a more sustainable and electrified future.
Canadian Utilities Ltd（TSX:CU）, a Canadian electricity utility and energy infrastructure company, announced the Yellowhead Mainline project on Wednesday. The project involves developing and constructing a natural gas pipeline in Alberta with an investment of 2 billion Canadian dollars (14.6 billion US dollars), along with related control and compression facilities.
This new natural gas pipeline is expected to commence construction in 2026 and be completed the following year. It will span a total of 124 miles, with the starting and ending points in Peers and Edmonton, Alberta, respectively. The primary customer for this pipeline will be Dow Chemical’s expanded chemical plant in Fort Saskatchewan, Alberta, as well as meeting the gas needs of other industrial facilities. However, regulatory approvals and final investment decisions are still pending before the project can begin.
With the industrial expansion and population growth in Alberta, the demand for natural gas in the province has surged, driving the need for natural gas pipelines. Concurrently, Canada is actively promoting its position in the liquefied natural gas (LNG) market, with the country’s first LNG export terminal set to come online next year, attracting overseas buyers with gas purchase demands.
Meanwhile, after a series of delays, cost overruns, and legal battles, the Trans Mountain Expansion Project (TMEP) finally received operational approval from the Canada Energy Regulator (CER) last week. This permits the pipeline to transport crude oil from Trans Mountain’s Edmonton terminal in Alberta to the Westridge Marine Terminal in Burnaby, British Columbia, increasing Canada’s crude oil export capacity by an estimated 590,000 barrels per day.
According to the Canadian government’s projections, once the nearly 23 billion Canadian dollar Trans Mountain pipeline expansion project is operational, the pipeline capacity will increase from the existing 300,000 barrels per day to nearly three times that amount, at 890,000 barrels per day.
Suncor Energy (TSX: SU) (NYSE: SU), Canada’s second-largest oil producer, announced on Wednesday plans to boost profits by chartering out its Aframax vessels in the Pacific to sell crude oil directly to customers transported through the Trans Mountain expansion pipeline. During the Tuesday earnings conference call, the company reported first-quarter profits exceeding analysts’ expectations, attributed to robust refined product demand and high oil sands production.
