The Canadian Prime Minister, Mark Carney, has launched the new Major Projects Office (MPO).
The MPO is headquartered in Calgary and will have offices in other major Canadian cities. Its mandate is to serve as a single point of contact to get nation-building projects built faster by streamlining and accelerating regulatory approval processes and by helping to structure and co-ordinate financing of these projects as needed.
The MPO will accelerate projects by creating a single set of conditions, thereby reducing the approval timeline for projects of national interest to a maximum of two years. It will work with provinces and territories to achieve a “one project, one review” approach for environmental assessments.
Dawn Farrell to spearhead the mission as CEO. Farrell brings four decades of experience in Canada’s energy sector, including as President, CEO, and Board Chair of Trans Mountain Corporation, President and CEO of TransAlta Corporation, and as a senior executive at BC Hydro.
The government will announce the first set of nation-building projects in the coming weeks.
The Canadian Association of Petroleum Producers (CAPP) applauded the launch of the MPO.
“One of the most exciting opportunities for growth in the whole of the Canadian economy would be to expand the emerging LNG industry and develop new oil-related projects,” said Lisa Baiton, CAPP president and CEO. “More nation-building projects – such as LNG export facilities, pipelines, carbon capture projects, offshore and upstream developments – mean more high-quality jobs for Canadians, more opportunities for Indigenous partnerships, and a more economically independent country. CAPP estimates that the oil and natural gas industry alone has about $26 billion worth of projects under construction yet more than $100 billion planned or waiting for a final investment decision.
“The oil and natural gas industry ranks as one of the most productive in the country. A strong energy sector is essential to addressing today’s challenges — from affordability and energy security to long-term national prosperity. We need a fast-follow on action – including a significant policy reset to attract investment and create meaningful momentum to become a global energy superpower.”