Tuesday, September 16, 2008

Mackenzie Pipeline Leaders "Optimistic"

From Bloomberg:

Imperial Oil Ltd. Chief Executive Officer Bruce March, head of Canada's largest oil company, said he's the most optimistic he has been in the past five years about the chances of the Mackenzie gas pipeline proceeding.

``We're very committed to the project and we're probably more optimistic than we've been in the last five or six years,'' said March.

Building the proposed 1,220-kilometer (758-mile) pipeline has been marred by regulatory delays and surging costs. Calgary- based Imperial, head of the conduit's development group, in 2007 doubled its cost estimate for the project and pushed back the target completion date by three years to 2014. (LINK)
The cost are up, the schedule has move to the right, there are regulatory delays.  There are a lot of lessons here for the Alaska Gas Pipeline.

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