Why Alberta petrochemical projects are competitive in the global market

September 12, 2019

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New petrochemical plants in Alberta are economically competitive with new facilities in four global hubs including the U.S. Gulf Coast, according to recent analysis conducted by the Canadian Energy Research Institute (CERI). CERI found that Alberta’s petrochemical plant total supply costs are reduced substantially by Western Canada’s oversupply of natural gas and its liquids including ethane, propane and butane; even in the context of carbon pricing. The conclusions, published in June, do not include the corporate tax and carbon tax policy changes that have been enacted by Alberta’s new provincial government under Premier Jason Kenney. Even so, researchers ranked Alberta’s total petrochemical supply costs number one in every jurisdiction and context, both with carbon taxation and without. CERI modelled economics for new petrochemical facilities in Alberta, the U.S. Gulf Coast, Ontario and South Korea. For the Canadian jurisdictions, researchers used existing corporate tax rates and carbon pricing, as well as the federal government’s planned carbon tax of $50 per tonne by 2022.

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FutureFuel Chemical Company

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