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Nearly 60 per cent of the aboriginal groups along the proposedroute of the Northern Gateway Pipeline Project through B.C. andAlberta have signed on to share in the ownership and profits of theproject, Enbridge officials say. The communities each agreed to take a share of a 10 per cent equitystake in the $5.5 billion project, meaning they will also get toshare in the profits generated by the pipeline. "The long-term financial benefits for participating as shareholderswill be significant. Aggregate equity ownership is expected togenerate approximately $280 million in net income to aboriginalcommunities over the first 30 years. Becoming an owner in thisproject means aboriginal groups are going to see significant cashflow within the first year of operations," said a statementreleased by the company on Tuesday. The company say it will not be releasing the names of thecommunities for contractual reasons, but says half are located inAlberta and half B.C. and include both First Nations and Metis. Itis estimated about 18 communities may have accepted the deal. The deadline for signing on to the deal was May 31, but the projecthas yet to been approved by the federal government, which iscurrently conducting a joint environmental review with variousagencies. The communities were given money by Enbridge to study the pipeline project earlier this year. Pipeline to link Alberta and West Coast The Northern Gateway project is a proposal by Canadian oil and gascompany Enbridge to build two pipelines stretching 1,177-km betweenthe Alberta oilsands and the West Coast. The Northern Gateway wouldhave the capacity to transport 525,000 barrels of oil per day. The $5.5-billion project would consist of two pipelines: onetransporting oil in a westerly direction from Bruderheim, Alta., tothe port of Kitimat, B.C., from where it would be shipped tointernational markets in Asia and the northwestern United States;and another carrying imported natural-gas condensate in theopposite direction. The condensate is a toxic mix of liquid hydrocarbons that formsduring the extraction of natural gas and is used as a thinningagent to dilute and help transport heavy oils like bitumen. The majority of the pipeline would be buried underground, with theexception of a few water crossings where it is deemed safer to runthe pipes above water. The project would also include the building of a new marineterminal in Kitimat. We are high quality suppliers, our products such as China Food Processing Machineries , Peanut Roaster Machine for oversee buyer. To know more, please visits Fruit And Vegetable Processing Equipment.
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