Read this story from The Globe and Mail on Enbridge CEO Pat Daniel’s recent joint trade mission to China with the Harper Government. (Feb. 10, 2012)
Chinese oil executives are growing frustrated with regulatory delays in plans for the Northern Gateway pipeline, even as interest in Canadian oil and gas surges in the energy-hungry country, the head of Enbridge Inc. says…
…“They’re frustrated, as we are, in the length of time it takes,” Mr. Daniel said in an interview on the sidelines of Prime Minister Stephen Harper’s mission to China. “They’re very anxious to diversify their supply, they’re very dependent on the Middle East for crude.
“[Canada] seems like the perfect match that should last a long time, but if you don’t move it along, people do lose interest. We don’t have forever,” he continued. “The fundamentals in the business can change and you must take advantage of opportunities if and when they present themselves.”
Mr. Daniel said they hope to have approvals completed within two years and construction in three, so that oil can begin flowing by late 2016 or early 2017, despite heavy opposition from environmental groups and first nations who fear the impact of an oil spill on some of Canada’s most untouched wilderness and coastline.