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June 2016

Pacific Future Energy files full project description

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Pacific Future Energy has filed with federal and provincial regulators its formal “Project Description,” which provides the public with information about its plans to build the world’s greenest bitumen refinery in northwest BC.

A draft version of the project description was filed with First Nations in December 2015 and with the federal and provincial regulators in January 2016.  This version takes into account all comments and feedback received to date.

The filing means that the BC Environmental Assessment Office and the Canadian Environmental Assessment Agency will soon kick off a government-and-public review process that could take up to two years.

“This starts another phase in our public conversation about how to build our future and protect our coast in northern BC by creating the world’s greenest bitumen refinery, while recognizing and respecting First Nations rights and title,” says Samer Salameh, PFEC’s chairman and CEO.

Pacific Future Energy proposes to build, with First Nations as co-creators, a bitumen-to-fuels refinery on a site between Terrace and Kitimat. It would produce diesel, gasoline, jet fuel and other products, primarily for export but also to serve domestic demand.

Subject to approvals, construction could start in 2018, and production in 2021. Cost would be $9 – $11 billion USD.

 

Highlights:

 

  • There would be no big oil tankers carrying diluted bitumen or heavy crude oil through BC’s northwest coastal waters;
  • The refinery would bring in safe, near-solid NEATBIT™ bitumen by rail, reducing risks of damage from land and water spills;
  • The refinery would be powered with clean energy and use the latest in technology to achieve Near Zero Net Carbon (NZNC) emissions;
  • The project would refine Canada’s oil at home, rather than see it shipped it to foreign refineries where environmental standards may be lower;
  • It would keep jobs in Canada (3,500 in construction and 1,000 in operations) and keep investment and public revenue in Canada.

Media contact: Don MacLachlan,

don@pacificfutureenergy.com604-329-8712

 

 

Bruce Chan joins our Advisory Board

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Bruce Chan comes to our advisory board after nearly 20 years in senior positions with Teekay Corporation, one of the world’s largest marine energy transportation, storage and production companies.

Prior to that, Bruce was with Ernst & Young LLC in Vancouver.  He holds a Masters in Business Administration and is a Chartered Accountant and Chartered Financial Analyst.

Bruce currently serves on the Board of BC Ferries, one of the largest ferry operators in the world, providing year-round vehicle and passenger service on 24 routes to 47 terminals, with a fleet of 35 vessels.

Bruce also serves on the Board of the TK Foundation, a private grant-making foundation supporting non-profit maritime and disadvantaged youth development programs.  The TK Foundation was established in honour of J. Torben Karlshoej, the founder of Teekay Corporation.

The advisory board provides Pacific Future Energy with strategic advice and input, and guidance on issues that are important to stakeholders.

Media contact: Don MacLachlan, don@pacificfutureenergy.com, 604-329-8712