Energy Diversification Act

Bill 1 has been passed to create and support programs that will help Albertans get the best value from their oil and gas resources.

Status: Bill 1 passed June 6, 2018
Ministry responsible: Energy

Overview

The Energy Diversification Act builds on Alberta’s energy strengths with initiatives that will create thousands of jobs, attract billions of dollars in private investment and secure our energy future through diversification and innovation.

We've committed up to $2 billion to leverage private investment, including:

  • $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

Diversification brings stability and long-term growth to our economy - it does not mean leaving our leadership in oil and gas behind.

These initiatives are expected to attract $10 billion in private investment, support 8,000 construction jobs and hundreds more operational jobs.

Energy diversification programs

Applications are now being accepted for the following programs:

Timeline

  • Application season opens June 8, 2018
  • Application season closes fall of 2018 (dates vary)
  • Application evaluation fall of 2018
  • Successful applicants announced in late 2018 or early 2019

News