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Alberta

EAST TANK FARM EQUITY ARRANGEMENT

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EAST TANK FARM EQUITY ARRANGEMENT

In the fall of 2017 Suncor, Fort McKay First Nation (FMFN) and Mikisew Cree First Nation (MCFN) announced the completion of the acquisition by FMFN and MCFN of a 49 per cent interest in the East Tank Farm Development (ETFD) valued at approximately $500 million. The two First Nations independently financed the acquisition, with the offering structured and marketed by RBC Capital Markets.

The agreement is unprecedented in size and scale for the First Nations and Suncor and is part of a growing trend of Indigenous communities as equity owners. The investment will provide a steady stream of revenue to both FMFN and MCFN for a minimum period of 25 years. Located 35 kilometres north of Fort McMurray, the ETFD provides storage, cooling and blending services for bitumen received from Fort Hills.

At a signing ceremony on Nov. 22, 2017, Suncor, Fort McKay First Nation (FMFN) and Mikisew Cree First Nation (MCFN) announced the completion of the acquisition by FMFN and MCFN of a 49 per cent interest in Suncor’s East Tank Farm Development (ETFD).

The two First Nations independently financed the acquisition, with the offering structured and marketed by RBC Capital Markets. The agreement is unprecedented in size and scale for the First Nations and Suncor and is part of a growing trend of Indigenous communities as equity owners.

“We’ve completed a historic deal for energy development in Canada. This unique partnership has been part of a journey that demonstrates how innovative thinking and collaborative spirit can result in a mutually- beneficial opportunity and it has changed the way Suncor thinks about how our Aboriginal neighbours may participate in energy development,” said Mark Little, president, Upstream, at the time of the signing and now Suncor’s president and CEO. “Through this partnership we’ve learned a lot about working together to create something significant, and I look forward to continuing to work together on this joint investment with Fort McKay First Nation and Mikisew Cree First Nation for many years to come.”

The agreement is held in a limited partnership with Suncor called Thebacha, the Dene word for “river.” The investment will provide a steady stream of revenue to both FMFN and MCFN for a minimum period of 25 years.

“The economic benefits generated from this deal will help our Nation to build capacity within our businesses, develop infrastructure in our community, fund social economic programs, and provide us with the means to help pay for education and training for our youth, and will be felt in our community for generations to come,” says MCFN Chief Archie Waquan.

Located 35 kilometres north of Fort McMurray, the ETFD is part of the existing East Tank Farm and adjoins the Hot Bitumen Terminal (HBT) and its associated tanks. Once Fort Hills begins to produce bitumen, the ETFD will receive the Fort Hills hot bitumen via the Northern Courier Pipeline.

“The deal represents one of the largest business investment to date by First Nation entities in Canada, and not only demonstrates the great potential for partnerships between First Nations and industry but serves as a model for how First Nations can achieve greater self-determination through financial independence,” said, FMFN Chief Jim Boucher, Chief at the time of the signing. “It is an example of how First Nations and natural resource development companies can find ways to support each other for the mutual long-term benefits.”

Thanks to Todayville for helping us bring our members’ stories of collaboration and innovation to the public.

Click to read a foreward from JP Gladu, Chief Development and Relations Officer, Steel River Group; Former President and CEO, Canadian Council for Aboriginal Business.

JP Gladu, Chief Development and Relations Officer, Steel River Group; Former President & CEO, Canadian Council for Aboriginal Business

Click to read comments about this series from Jacob Irving, President of the Energy Council of Canada.

Jacob Irving, President of Energy Council of Canada

The Canadian Energy Compendium is an annual initiative by the Energy Council of Canada to provide an opportunity for cross-sectoral collaboration and discussion on current topics in Canada’s energy sector.  The 2020 Canadian Energy Compendium: Innovations in Energy Efficiency is due to be released November 2020.

Read more on Todayville.

 

Hydro-Québec takes partnerships, environmental measures and sharing of wealth to new levels

 

 

 

The Energy Council of Canada brings together a diverse body of members, including voices from all energy industries, associations, and levels of government within Canada. We foster dialogue, strategic thinking, collaboration, and action by bringing together senior energy executives from all industries in the public and private sectors to address national, continental, and international energy issues.

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Alberta

‘No option:’ Alberta bans home gatherings as COVID-19 cases continue to climb

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EDMONTON — Alberta Premier Jason Kenney, his province bending precariously under the weight of record COVID-19 cases, imposed new sweeping public health restrictions Tuesday that include a ban on gatherings in people’s homes.

Kenney also announced changes to schools, churches, restaurants and retailers, and banned sports teams from playing and sharply curtailed attendance at weddings and funerals.

He said the goal is to slash the rate of infections and keep people alive while preventing the loss of jobs and livelihoods that threaten to make an already dire situation even worse.

“This whole thing is just incredibly tough for everyone,” Kenney said Tuesday.

“I just never imagined I’d be in this place in public life where I was telling people who could come visit them at home.

“We really just felt we had no option given that 40 per cent of traceable cases connect back to private social activity.”

Indoor gatherings are banned immediately, but people who live alone can have two personal contacts they are allowed to meet up with.

Outdoor social gatherings are limited to 10 people, as are funerals and weddings.

Kenney said the government is still working out how officers will enforce the gathering ban, but said there will be not be a “snitch line” for people to report on their neighbours.

“(Officers) will be able to write tickets for fines of up to $1,000 per individual who is violating these rules against indoor social activities.”

He added that police and peace officers will have latitude on enforcement 

“They will be able to see if there are obvious signs of a large gathering, a lot of cars parked outside somebody’s house, for example,” Kenney said. 

Starting Friday, businesses will remain open at reduced capacity or by appointment only.

Places of worship must operate at one-third capacity. Banquet halls, conference centres and concert venues must also close.

And children in grades 7 through 12 will move to at-home learning at the end of the month and other students will follow after Dec. 18.

The orders will be reviewed in three weeks.

Dr. Deena Hinshaw, Alberta’s chief medical officer of health, reported 1,115 new cases on Tuesday — the sixth consecutive day with numbers above the 1,100 mark. There were 348 patients in hospital, 66 of them in intensive care. Sixteen more people died, bringing that total to 492.

A day earlier, Hinshaw compared the COVID-19 situation in Alberta to a snowball rolling down a hill, growing in size and speed.

Lives and livelihoods have been the crux of the debate in Alberta. Kenney has maintained that the best approach is targeted health restrictions to keep COVID-19 from overrunning the health-care system while keeping the economy from collapsing.

Others, including many physicians, infectious disease specialists and the Opposition NDP, have called for sharp, short economic lockdowns, arguing that if the COVID-19 wave isn’t stopped, there won’t be an economy left to save.

Kenney’s decisions were made after Hinshaw made new undisclosed recommendations Monday to the cabinet subcommittee directing COVID-19 decisions.

NDP Leader Rachel Notley called the new restrictions “half-measures” and said they were likely the result of political bargaining instead of advice from public health officials.

“We cannot know, unfortunately, exactly what Dr. Hinshaw recommended to this UCP cabinet. But I do not for one second believe it was this,” she said.

Mike Parker, head of the Health Sciences Association of Alberta, a union representing paramedics and other health professionals, said Kenney tried to find the middle ground and failed.

“The measures announced today are inadequate,” Parker said. 

“(Kenney) continues to put business interests ahead of the well-being of Albertans.”

Jason Schilling, head of the Alberta Teachers’ Association, said the groups supports the move “to move to a combination of in-school and at-home learning that will allow schooling to continue in a safer environment.”

This is the second time Kenney’s government has imposed sweeping rules to combat COVID-19.

The province shut down many retail businesses, restaurants, recreation centres and schools during the first wave in March. Most were allowed to reopen in May and June with restrictions. Schools opened again in the fall.

In recent weeks, the province has limited public gatherings in areas including Edmonton and Calgary and forced bars and restaurants to stop serving booze by 10 p.m. and to close by 11 p.m.

Indoor group fitness and team sports, along with group singing and arts performances, are also banned in several large cities.

This report by The Canadian Press was first published Nov. 24, 2020.

Dean Bennett, The Canadian Press

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Alberta

A look at new restrictions in Alberta to battle rising COVID-19 infections

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EDMONTON — The Alberta government announced Tuesday new restrictions to battle record-high rates of COVID-19 infections in the province. In addition to declaring a public health emergency, the government ordered the following for the next three weeks:

— No indoor social gatherings. Funerals and weddings are limited to 10 people, as are outdoor gatherings. Churches are restricted to one-third normal attendance.

— Restaurants and bars can remain open. But a maximum of six people from the same household can sit at a table and there must be no movement between tables. People who live alone can meet with two people.

— Retail stores can remain open at 25 per cent capacity.

— At-home learning for students in Grades 7 through 12 starting Monday. Other students are to do their schooling from home starting Dec. 18 before winter break. All students are to resume at-home learning after the break and can return to school Jan . 11.

— Casinos can remain open at 25 per cent capacity with slot machines only.

— The closure of banquet halls, conference centres, trade shows, concert venues, community centres, and indoor play places.

— A halt on all levels of sport, although exemptions may be considered.

— Mandatory masks for indoor workplaces in Edmonton, Calgary and surroundings areas.

This report by The Canadian Press was first published Nov. 23, 2020.

The Canadian Press

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november, 2020

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