ALBERTA MOVES TO SEIZE VALUE-ADD OPPORTUNITIES WITH NEW PETROCHEMICALS DIVERSIFICATION PROGRAM
February 01, 2016
The chemistry industry of Alberta welcomes today’s announcement of the Province’s Petrochemicals Diversification Program. This initiative will help diversify the Province’s economy by enhancing opportunity for more investment in the chemical sector.
“Following on the release of the Royalty Review Advisory Panel Report last week the Government has moved swiftly to seize opportunities to enhance value-added processing,” says Bob Masterson, CIAC President and CEO.
The Petrochemicals Diversification Program will specifically focus on methane and propane value chains and provide up to $500 million in royalty credits for qualifying investments using these “feedstocks.”
This program will improve Alberta’s ability to attract some of the world scale investment projects considering North America as a location. We look forward to working with the Alberta Government on future initiatives that will ultimately cover all natural gas liquids and further diversify the Alberta economy, says Masterson.