Former International Trade Minister joins project to refine Alberta bitumen for Asian markets
VANCOUVER, Aug. 21, 2014 /CNW/ - Pacific Future Energy Corporation (Pacific Future Energy) is pleased to announce that former International Trade Minister, former Treasurer (Minister of Finance) and Acting Premier of Alberta, and former Leader of the Her Majesty's Official Opposition, the Honourable Stockwell Day, P.C., has joined its management team as a Senior Advisor, Director, and chair of the company's Advisory Committee. Pacific Future Energy plans to build and operate the greenest refinery in world on Canada's west coast.
"We believe it is critical to Canada's national strategic interest to gain access to international markets for Alberta's oil. As the former federal regional minister for British Columbia, and a former Alberta cabinet minister, I have a unique vantage point from which to understand what it takes to make this happen," Mr. Day said.
"This can only be accomplished in full partnership with First Nations, with true economic benefits for Canadians, including Albertans and British Columbians, all the while protecting Canada's cherished west coast from the catastrophic effects of a possible bitumen spill," added Mr. Day.
"We are very excited to have Mr. Day join our team," said Samer Salameh, Executive Chairman of Pacific Future Energy. "Our project office is now up and running at a robust pace. Our goal is to finalize the refinery site by the end of 2014. We expect to enter into the regulatory process in 2015."
The Pacific Future Energy refinery in B.C. will help to build our future by creating thousands of long term jobs and economic stability at home by expanding Canada's oil market access. It will also protect Canada's west coast by eliminating the threat of a bitumen spill. This will be accomplished by shipping products refined in Canada. The refinery will utilize Near Zero Net Carbon emissions technology and will be the greenest refinery in the world.
The $10 billion refinery is being designed to be built in modules, the first processing 200,000 barrels of bitumen per day, ensuring that it both is scalable and flexible. The bitumen will be converted into gasoline, diesel, kerosene and other distillates.
"From the very beginning, and every step of the way, our partnership with First Nations will ensure that we all benefit from traditional and ecological knowledge, while respecting their rights to full consultation and accommodation -- all with the goal of shared prosperity and health for future generations," added Jeffrey Copenace, Senior Vice President, Indigenous Partnership.
About Pacific Future Energy
Vancouver-based Pacific Future Energy is a company that has been developed to finance, design and construct the world's greenest oil refinery in British Columbia, Canada. The management team consists of leaders from the venture capital, corporate and government sectors, who share the belief that while it's in Canada's national strategic interest to diversify its markets for oil, it should be done in a socially and environmentally responsible manner while ensuring the protection of Canada's west coast.
Image with caption: "Stockwell Day (CNW Group/Pacific Future Energy Corporation)". Image available at: http://photos.newswire.ca/images/download/20140821_C1191_PHOTO_EN_5012.jpg
SOURCE: Pacific Future Energy Corporation
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