Update of the economic analysis of the Energy East pipeline project: Business leaders reiterate their support

Montréal - December the 17, 2015 – Following the release of an update of an analysis of the Energy East pipeline project by The Conference Board of Canada, Québec business leaders have come together to reiterate their support for the project. The data made public today reaffirm that Québec will reap considerable economic benefits from Energy East, in spite of the decision not to build a marine terminal in the province. 

The updated Conference Board analysis confirms that Québec will benefit from the creation of more than 3,160 annual direct and indirect jobs linked to the development and construction phases of the pipeline (9 years) and 324 direct and indirect jobs linked to the operation phase (20 years). This is equivalent to some 35,000 new jobs that will bolster the construction sector and will strengthen and leverage Québec’s expertise in petrochemical technologies. As well, hundreds of suppliers across the province will contribute to and benefit from, the project’s construction and operation.​

At present, refineries in Québec and in New Brunswick process petroleum that is mostly imported. This weighs heavily on Québec’s largely negative balance of trade. The Energy East pipeline project would transport some 1.1 million barrels of crude oil per day from Alberta and Saskatchewan to refineries in Québec and in eastern Canada. The pipeline would enhance the competitiveness of a national market for western Canadian crude. Locally, the project could provide significant benefits to Québec by encouraging the creation of jobs and by ensuring a stable and secure supply of petroleum.

A pipeline project like Energy East provides us with an ideal opportunity to have access to Canadian petroleum while preserving our environment. A pipeline is the most reliable, secure and ecologically responsible system for transporting large quantities of oil over long distances and it brings benefits to communities as it does to refiners.

Energy East provides us with a unique opportunity to develop and to leverage Québec’s world class expertise in petrochemical technologies, manufacturing, engineering and construction. These assets are vital to our economy, to the creation of jobs and to the well-being of our communities.  

It is clear that we are on a path to an economy that will be less dependent on hydrocarbons and that we are in a period of transition with respect to our energy choices. However, while we seek to strike a balance between what we aspire to and what our needs are today, we must keep in mind that Québec will continue to require large quantities of hydrocarbons for decades to come.

As long as hydrocarbons like petroleum are needed in our daily lives, we consider that Energy East represents a pragmatic and responsible solution for their handling and it is incumbent upon us to support the realization of this project.

Signatories

Fédération des chambres de commerce du Québec

Conseil du patronat du Québec

Chambre de commerce du Montréal Métropolitain

Chambre de commerce de l’Est de Montréal

Association industrielle de l'Est de Montréal

Association des constructeurs de routes et grands travaux du Québec

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