Petrochemical projects receive royalty credits

The Canadian oil-producing province of Alberta will offer CAD $500 million in royalty credits to Pembina Pipeline Corp and Inter Pipeline Ltd for their petrochemical projects, the government recently announced.

The provincial government said the companies were the approved applicants of its Petrochemicals Diversification Program, which supports construction of facilities that use propane or methane, components of natural gas, as feedstock to produce materials for products including plastics, detergents and textiles.

Pembina’s project is a joint venture with Kuwait’s Petrochemical Industries Company and has been approved to receive up to CAD $300 million in royalty credits to build a propylene-polypropylene facility. The project by Inter Pipeline, which would process propane into propylene, has been approved to receive up to CAD $200 million in royalty credits.

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