Issue 24/2016 - Alberta, Canada, heavily subsidizes petrochemical projects

Alberta
, Canada, recently said that the provincial government will pay up to 500 million Canadian dollars to two local chemical companies to reward the two companies for investment projects
to build propane processing equipment in Alberta.

Argenta Energy Minister Marg McCuaig-Boyd said the provincial government is actively pushing the province's energy industry in a more diversified direction
.
The provincial government hopes that energy companies can invest more in midstream and downstream chemical processing, crude oil and natural gas refining and other businesses
.
The two projects awarded are a joint project of Pembina Pipeline Corp.
and Petrochemical Industries Co, and a chemical development project
of Inter Pipeline.
The former's chemical equipment is expected to be officially completed and put into operation
in 2021.
At present, it is expected that the total project expenditure will be about
3.
8 billion ~ 4.
2 billion Canadian dollars.
The latter cost around
$1.
85 billion.