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Home > News Releases > News Releases 2008 > Additional oil capacity coming down the pipe says National Energy Board Annual Report

Additional oil capacity coming down the pipe says National Energy Board Annual Report

08/19
For immediate release
6 May 2008

CALGARY - Surging crude oil prices sparked a jump in applications for oil pipelines in 2007 said the country's national regulator in its annual report, released today.

Last year the National Energy Board (NEB) considered applications for more than 140,700 cubic metres (885,000 barrels) per day of new oil pipeline capacity said the NEB in its 2007 Annual Report to Parliament. In 2006, the NEB looked at applications for just over 6,360 cubic metres (40,000 barrels) per day of new oil pipeline capacity.

"Without a doubt, the National Energy Board shifted into high gear throughout 2007," said National Energy Board Chair and CEO Gaétan Caron.

"Furthermore, it is becoming clear that not only is the Canadian oil and gas industry changing in terms of supply and demand, so too is Canada's regulatory regime. Increasingly sophisticated participants and a greater awareness of the role they can have in the regulatory process are all contributing to this changing dynamic. In 2007, we were able to capitalize on several opportunities to respond to this change."

One example is the Land Matters Consultation Initiative, launched by the NEB in October, 2007. This initiative will provide a forum for interested parties and the NEB to discuss the responsible development of the energy sector, while respecting the rights of those affected. Discussions will focus on landowner consultation programs, improving accessibility to NEB processes and pipeline abandonment issues.

The NEB also achieved the following milestones in 2007:

Welcoming newly appointed Chair and CEO Gaétan Caron, Vice-Chair Sheila Leggett and Chief Operating Officer Pradeep Kharé.
Introducing a new online system in August designed to streamline the application process for low risk projects. Issues of concern or issues that are higher risk will receive extra attention by NEB technical specialists and issues that are lower risk will still be assessed, but the amount of information required for the assessment will be streamlined.
In November, the NEB released its much anticipated Canada's Energy Future report. Published only once every four years, this report examined three possible energy futures that may unfold for Canadians up to the year 2030.

The NEB is an independent federal agency that regulates several parts of Canada's energy industry. Its purpose is to promote safety and security, environmental protection, and efficient energy infrastructure and markets in the Canadian public interest, within the mandate set by Parliament in the regulation of pipelines, energy development and trade.

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For further information:

Sarah Kiley
Communications Officer
National Energy Board
E- mail: sarah.kiley@neb-one.gc.ca
Telephone: 403-299-3633
Telephone (toll free): 1-800-899-1265
Telecopier: 403-292-5503
Telecopier (toll free): 1-877-288-8803
TTY (Teletype): 1-800-632-1663

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