When it comes to pipeline projects, Cenovus Energy says it needs them all to be built. That’s not all, chief executive Brian Ferguson says his company needs every major pipeline project, along with rail, to allow it to transport its growing oil sands production.
Ferguson’s comments contradict some analysts predictions who say all the proposed pipelines will not be needed to ship increasing oil production in the next 10 years.
But Mr. Ferguson said increasing oil production means producers need more ways to transport their oil. Suncor Energy supports four proposed projects: Northern Gateway, TransCanada’s Keystone XL, Energy East and Kinder Morgan’s planned expansion of its Trans Mountain pipeline.