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Breakenridge: Let s hope Alberta has learned its lesson on the Sturgeon Refinery boondoggle
edmontonjournal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from edmontonjournal.com Daily Mail and Mail on Sunday newspapers.
Breakenridge: Let s hope we have learned a lesson on Sturgeon Refinery
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Alberta extends Sturgeon Refinery deal by 10 years, buying 50 per cent stake in bid to save $2 billion
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Government of Alberta takes 50 per cent stake in Sturgeon Refinery
Business Related
Yes
CALGARY – The Alberta government is taking 50 per cent ownership of the controversial Sturgeon Refinery northeast of Edmonton.
The province has signed a restructuring deal that also extends the length of Alberta’s processing contract with the refinery by 10 years, to 2058.
The province says the deal means less taxpayer risk in the long-term. It says Alberta will benefit from being both a toll payer and a facility owner.
The government says the restructuring deal won’t cost the province anymore than it was already obligated to pay as a toll payer. The government-owned Alberta Petroleum Marketing Commission has a contract to provide bitumen to the refinery.