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The top five industrial megaprojects announced in Canada in 2012 worth a total of $50 billion December 20, 2012
International economic downturn or not, the global thirst for energy remains unquenched. As a net energy exporter, Canada is in a strong position to attract world-class investment aimed at export markets. Overall, investment for industrial megaprojects has continued to increase during 2012 in Canada, and the total value of projects announced during 2012 is greater than the value of those announced in 2011. The five largest projects by value set the tone: Kitimat Clean oil refinery ($13 billion), liquefied natural- gas terminal projects by LNG Canada (a consortium led by Shell , $12 billion) and Pacific Northwest LNG (Petronas, $9 billion), and the Sasol refinery and Spectra Energy gas pipeline, valued at $8 billion each. Clearly, the oil and gas sector continues to lead. A decidedly different situation from 2011, when three of the top five projects involved mineral extraction (iron ore, potash and copper). The drop in metal prices during 2012 helped slow investments in this sector. The top province for megaprojects is British Columbia, home to four of the five announced during 2012 (petroleum refinery, two LNG terminals and gas pipeline). The province enjoys an increasingly dominant position within Western Canada, in part because its Pacific ports provide ready access to Asian markets. …
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