Atlantic Provinces Economic Council presentation

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HGC Halifax Logistics Park Summit 2012

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Atlantic Provinces Economic Council presentation

  1. 1. Overview of KeyMega Projects inAtlantic CanadaPatrick Brannon,Research AnalystAtlantic Provinces EconomicCouncilHalifax, Nova ScotiaNovember 15, 2012
  2. 2. APEC’s 2012 Major Projects Inventory Total Value of APEC’s Major Projects Inventory, $billion • APEC’s Major Projects Inventory 120 NB (MPI) is an annual survey of large project activity in Atlantic Canada NS 100 PE NL • A major project is any capital 80 project valued at $25 million+ 60 40 • The 2012 MPI identified 357 major investment projects in various stages of development across 20 Atlantic Canada with a total potential value of $100 billion 0 2007 2008 2009 2010 2011 2012Source: APEC Major Projects Inventory
  3. 3. Atlantic Canada’s Mega Projects
  4. 4. Total Value of APEC’s Major Projects Inventory Major Projects Inventory (MPI) value by sector, Atlantic Canada MAN 20% •Strong growth Remaining Sectors in investment ELE 12% 19% potential this year. TRA 7% •Manufacturing, HOU energy and 12% O&G mining projects MIN account for 70% 18% 13% of the totalSource: APEC Major Projects Inventory
  5. 5. Value of Current-Year Major Project Investment($billions) 8 7 •Newfoundland and Labrador 6 continues to dominate major 5 project activity 4 in Atlantic Canada 3 •Maritime 2 Newfoundland & Labrador provinces Maritimes 1 slowing due to lower public 0 spending 2007 2008 2009 2010 2011 2012 2013Source: APEC Major Projects Inventory
  6. 6. Estimated Value of Major Project Investment inLabrador ($millions)3000 In Development Underway/Near Approval2500200015001000 500 0 2008 2010 2012 2014Source: APEC Major Projects Inventory
  7. 7. Growing Investment from Companies Based in Asia andSouth AmericaInvestment by foreign companies in Atlantic Canadamajor projects by location, 2012 (% of total) Europe •US energy 14% US companies lead 42% overall investment trend •Asia and Brazil Asia 15% backing Labrador mining projects Brazil 29%Source: APEC Major Projects Inventory
  8. 8. Substantial Large Project Investment Underway or in Planning Stages Across CanadaProv. Name Value ($b) Start EndNS National Shipbuilding Procurement Strategy 25.0 2015AB Frontier Oil Sands Phase 1&2 – Teck Resources 14.5 2016AB Voyageur Oil Sands Third Upgrader - Suncor 11.6 2011 2016AB Kearl Lake Oil Sands Phase 1 - Imperial Oil 10.9 2009 2012AB Fort Hills Oil Sands Mine - Suncor 9.6 2012 2016AB Kearl Lake Oil Sands Phase 2 - Imperial Oil 8.9 2012 2015AB Joslyn North Mine - E&P Canada 8.9 2013 2017NL Hebron Oil Project - ExxonMobil 8.3 2012 2024NL/NS Muskrat Falls Hydro – Nalcor/Emera 7.4 2012 2017QC Romaine Complex - Hydro Quebec 6.5 2009 2020AB/BC Northern Gateway Pipeline - Enbridge 5.5 2014 2015QC Eastmain-1A-Rupert - Hydro-Quebec 5.0 2007 2012AB Bitumen Upgrader – Northwest Redwater 5.0 2013 2014NS LNG Export Terminal 5.0 2014 2018Source: APEC Major Projects Inventory,Provincial Gov’t Major Project Inventory Lists
  9. 9. Exploration Interest in Greenland and the North Greenland • Oil and Gas Exploration (CAIRN, Statoil) • Mining activity (Aluminum-Alcoa smelter, Uranium, lead- zinc, precious metals and gems) • $100 million on mineral exploration in 2011 Canada’s North • Eastern Arctic-Baffin Island • Northern Arctic-Sverdrup Basin • Mackenzie Delta/Beaufort Sea
  10. 10. Mining and Offshore Investment Could Push PeakActivity Out Beyond 2016Estimated investment in mega projects (over $500 million) 6000 • High level of 5000 NB investment expected to NS 4000 continue for NL several years 3000 • Successful 2000 mining and offshore 1000 exploration could add to 0 these levels 2005 2007 2009 2011 2013 2015Source: APEC Major Projects Inventory

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