• The NEB has issued a certificate of public convenience and necessity for the 1,196 km $16 billion Mackenzie Valley Pipeline. With this final approval in place, the next step is to negotiate a fiscal agreement with the federal government that could possibly include a federal loan guarantee, reducing the cost of capital of the pipeline and resulting in lower tolls. The pipeline will transport as much as 1.2 bcfpd of natural gas from the Mackenzie Delta on the Beaufort Sea to southern markets. The NEB approval requires that the construction of the pipeline begin by Dec. 31, 2015.
  • The Canadian Northern Economic Development Agency is funding more than $300,000 over 2 years for a feasibility study and business plan to assess the viability of oil and gas development in the Eagle Plain region of Northern Yukon. Vuntut Gwitchin Limited Partnership will lead the project on behalf of North Yukon Economic Partnership, which includes the four First Nations of Vuntut Gwitchin, Tr’ondek Hwech’in, Nacho Nyak Dun and Gwitch’in Tribal Council.
  • Paramount Resources is currently evaluating the potential of its 175,000 acreage for prospective shale gas from the Liard Basin. Paramount Resources plans to drill its first shale gas well in the Liard Basin in the first quarter of 2012.