Alberta energy diversification recommendations serve as model for rest of Canada
OTTAWA, - The Chemistry Industry Association of Canada (CIAC) welcomed Alberta's Energy Diversification Advisory Committee (EDAC) report. The expert committee shared its recommendations to increase the value of energy resources, create jobs and attract new investment to Alberta.
"CIAC shares the goals of seeking to optimize the return to Albertans and support continued industry investment, economic diversification and responsible development," said Bob Masterson, President and CEO of CIAC. "The EDAC panel engaged with stakeholders in extensive consultation and has brought forth meaningful recommendations worth consideration."
"Alberta and Canada need to compete for new investments in resource value-added chemical manufacturing," continued Masterson. "This is an important step in understanding the opportunity for Alberta with expanded resource value-added manufacturing but also the competitiveness issues that exist when investors are looking at Alberta versus other North American jurisdictions."
The chemistry sector is already a key contributor to Alberta's energy value-add strategy. Natural gas liquids, in particular ethane, and natural gas itself (methane) are converted into high-value chemicals and fertilizers resulting in $16 billion in sales in 2016, with over $8 billion in exports. Additionally, the industry creates well-paid high-value jobs (over 1/3 of its employees have university degrees) with important multiplier effects within local economies – each chemical job results in another five in related sectors and services.
"By adding value to Canada's low-carbon energy resources, the chemistry sector is helping Canada take a leadership position in meeting the global climate challenge," added Masterson. "We look forward to working closely with the government as these recommendations get implemented."
SOURCE Chemistry Industry Association of Canada