In the last decade, Alberta experienced tremendous growth according to a variety of economic indicators. Leading the nation in per capital investment and doubling the national average, the province is a prime location for procurement opportunities.
Within Alberta, over $192 billion in projects are planned, underway, or have recently been completed (Government of Alberta’s Inventory of Major Projects, March 2012). Of this, the chemical and petrochemical sector accounts for $833 million, $2.2 billion is allotted to the oil and gas sector, and a staggering $125.9 billion in the oil sands sector.
The shift from light crude to heavy oil production creates the potential to maximize the value of hydrocarbon resources through integrated or merchant upgrading and refining. With over 1.5 million barrels of proposed new heavy and bitumen production requiring markets over the next several years, conversion to finished saleable products is a niche opportunity.
Several petrochemical derivative opportunities with excellent investment potential have also been identified within Alberta’s Industrial Heartland.
Additional Procurement Opportunity Resources
- Business Information by Industrial Category – Industry Canada
- Institute for Chemical Process and Environmental Technology – National Research Council of Canada