Status: Bill 1 passed June 6, 2018
Ministry responsible: Energy
Overview
We're building on Alberta’s energy strengths with new and expanded programs that encourage companies to turn our oil and gas resources into more valuable products.
These programs are expected to attract $10 billion in private investment, support 8,000 construction jobs, hundreds of operational jobs, and secure our energy future through diversification and innovation.
Diversification brings stability and long-term growth to our economy - it does not mean leaving our leadership in oil and gas behind.
The Energy Diversification Act commits up to $2 billion to leverage private investment:
- $500 million in royalty credits for a second round of the Petrochemicals Diversification Program
- $500 million in loan guarantees and grants to establish a Petrochemical Feedstock Infrastructure Program
- $1 billion in loan guarantees and grants to initiate a Partial Upgrading Program
Programs
Applications are now being evaluated for the following programs:
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Petrochemicals Diversification ProgramEncouraging companies to build manufacturing facilities that will turn ethane, methane and propane into more valuable products.
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Petrochemicals Feedstock Infrastructure ProgramEncouraging companies to build the facilities needed to supply natural gas components required for value-added development.
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Partial Upgrading ProgramEncouraging companies to build bitumen upgrading facilities to improve the quality of our energy resources.
Timeline
- Application season opens June 8, 2018
- Application season closed fall of 2018 (dates vary)
- Application evaluation fall of 2018
- Successful applicants announced in late 2018 or early 2019
News
- Building on Alberta's energy strengths (Mar. 12, 2018)
- Investing in a diversified energy future (Mar. 8, 2018)
- Securing Alberta's future through energy diversification (Feb. 26, 2018)