Great Q&A today at a presentation on the NWR Sturgeon Refinery and Alberta Carbon Trunk Line by Ian MacGregor at the Calgary Petroleum Club.

Great questions from the audience of 128 attendees at a Joint PJVA/GPAC/PASC Luncheon after a fantastic talk on the NWR Sturgeon Refinery and ACTL projects by Ian MacGregor. Great takeaways from the discussion were:

1. No need to wait for Pipelines-Using existing transportation we can ship more value if we refine bitumen to diesel- with existing capacity, we can ship $70 billion in Diesel instead of $20 billion in Dilbit. More revenue for producers and the Crown.
2. We can use rail as Diesel has high enough value that you can afford to ship it by rail- Bitumen has not enough netback to afford rail.
3. The CO2 Recovery from the Sturgeon Refinery lessens the GHG impact of producing Bitumen while the ACTL creates a way for Alberta to economically manage it's CO2 emissions.

There were so many more great takeways. Definitely a great pair of projects for Alberta. Thanks to all who attended and contributed to a thoughtful discussions. Many thanks to speaker Ian MacGregor for inviting frank discussion from industry professionals.