CALGARY — A $10-billion oilsands refinery is being pitched for British Columbia’s north coast.
Vancouver-based Pacific Future Energy Corp. says the refinery will be the “world’s greenest” and will be built in full partnership with First Nations.
The company says the refinery will be built in 200,000-barrel-per-day modules, with the ability to expand to a total of one million barrels per day.
It says it’s in Canada’s interest to ship its oil resources to global markets, but not at the expense of the environment.
Pacific Future’s announcement comes just days before Ottawa is set to decide on Enbridge Inc.’s (TSX:ENB) contentious Northern Gateway pipeline between Alberta and the West Coast.
The Pacific Future proposal — and another one planned by B.C. newspaper magnate David Black — would mean refined products, rather than heavy oil, would be shipped to Asia, making a spill less environmentally damaging.