National Energy Board Hearings - Reversal of pipeline 9B: an opportunity for
Quebec, an urgent need for Valero Energy Inc.
MONTREAL, Oct. 11, 2013 /CNW Telbec/ - It is vital that the Quebec refining
industry has access to new sources of raw material at competitive costs. The
reversal of pipeline 9B, allowing the shipment to Quebec of oil from Western
Canada and elsewhere on the continent, offers the most reliable and quickest
means of making this possible, emphasized Valero Energy Inc. (‟Valero")
today in Montreal at the National Energy Board hearings on the Enbridge
‟The Quebec refining industry is experiencing increasingly fierce
competition and there is an urgent need to vary its supply sources so that it
remains competitive and viable in the long-term. For Valero, such access to
competitive sources of light crude oils remains the fundamental condition for
the inflow of future major investments in our facilities," said Ross R. Bayus,
President of Valero's Canadian Operations.
Investments of $200 million
In addition to bolstering the security of the Province's energy production,
the pipeline 9B reversal offers significant opportunities for Quebec. For
Valero alone, the Enbridge pipeline 9B reversal represents investments of over
$200million at its Montreal East facilities and its Lévis Jean Gaulin
refinery, as well as the acquisition of two new ships, via a partnership, for
the transportation of oil on the St. Lawrence River between these two
destinations. These investments would create 200 jobs during the construction
phase and 100permanent jobs, once the two ships are in service.
‟This project offers a real opportunity for Quebec and its refining and
petrochemical industry to benefit from the pipeline 9B's existing
infrastructure. This pipeline has proved its reliability and its flow can be
reversed in less than one year in order to meet current demand. It also makes
perfect sense, both economically and socially, that we should capitalize on
this country's raw materials, while also ensuring their reliable and safe
transportation," added Mr. Bayus.
Valero is the largest independent refiner and distributor of petroleum
products in the world. Its assets include 16 refineries located across the
United States from the West Coast to the Gulf of Mexico, as well as in Canada
and the United Kingdom, with a combined throughput capacity of 3million
barrels per day. Through Valero Energy Inc., its wholly owned subsidiary in
Canada, it owns and operates the Jean-Gaulin refinery in Lévis, which has a
refining capacity of some 265,000 barrels per day, along with several other
logistics infrastructures, including the Montreal East oil terminal, the most
important of its kind in Canada, as well as the Pipeline Saint-Laurent that
links the Lévis refinery and Montreal. Its Canadian operations also make it a
leader, among others, in the field of industrial and commercial sales of
petroleum products, and as a supplier to resellers and independent
distributors. Valero Energy Inc. is also a major employer in Eastern Canada,
in terms of the direct and indirect employment it generates.
SOURCE Valero Energy Inc.
Michel Martin - Director, Public and Government Affairs Telephone:
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CO: Valero Energy Inc.
-0- Oct/11/2013 13:46 GMT
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