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Italy's Economic Diplomacy - 6 December: latest news from the world

Date:

12/06/2016


Italy's Economic Diplomacy - 6 December: latest news from the world

Canada: Trudeau Cabinet approves "Trans Mountain” and “Line 3” pipelines

Canada recently made some important decisions as to its infrastructure network to transport oil to Western Canada. At a press conference, Prime Minister, Justin Trudeau announced his government gave the green light to two projects: Kinder Morgan's Trans Mountain pipeline and Enbridge's Line 3.The "Trans Mountain" project will carry the crude extracted from Alberta's oilsands all the way to the Pacific coast. The project will nearly triple the capacity of an existing pipeline to 890,000 barrels a day. This $ 6.8-billion, 1,150-kilometre pipeline will move oil products from Edmonton (Alberta) to a terminal in Burnaby, (British Columbia). Current estimates set the beginning of activities in September 2017 . The pipeline will be fully operational by the end of 2019.The second project that the Cabinet approved, regards the replacement program of Line 3, a pipeline constructed back in the 1960s. The project will entail a $7.5 billion investment, thus becoming one of the largest infrastructure projects in the whole of the North American Continent. The 1,659-kilometre project will carry oil from a terminal near Hardisty, Alberta, to  Superior (Wisconsin) on the US coast, and it  would nearly double the existing pipeline's volume to 760,000 barrels a day.

Brazil: Enel wins CELG privatization auction

Enel won the auction for the privatization of Celg Distribuicao, an energy distributing company operating in the State of Goias. Enel was the sole bidder and paid approx. 2.2 billion reais ( over 600 million euros).  Italy's power company will distribute electricity to over 2.5 million customers in the State of Goias. They will add up to the 3 million customers it provides electricity to in the State of Rio de Janeiro.


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