1. Encana reported that it has finalized its Cutbank Ridge Partnership agreement with Mitsubishi. The deal will grant Mitsubishi a 40% stake in the Partnership for $2.9 billion, half of which will be invested by Mitsubishi along with its 40% share of future capital investments over the next five years. The Partnership, managed by Encana, holds approximately 409,000 net acres of undeveloped Montney formation natural gas lands in northeast British Columbia’s Cutbank Ridge.
  2. The results of Transport Canada’s TERMPOL Review Process Report regarding the Northern Gateway Pipeline Project were warmly received by project proponent Enbridge. The study, which is one stage in a larger review process, focussed on the marine operations and tanker traffic that will accompany the proposed project. According to the report, no regulatory concerns have been identified for the vessels, vessel operations, proposed routes, navigability, other waterway users or the marine terminal operations associated with vessel traffic. The results of the study, prepared by Transport Canada, Environment Canada, Fisheries and Oceans Canada, Pacific Pilotage Authority Canada and the Canadian Coast Guard, have been filed with the Joint Review Panel responsible for assessing the project.