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Home / News / $15 billion oil refinery proposed for Terrace-Kitimat area

$15 billion oil refinery proposed for Terrace-Kitimat area

$15 billion oil refinery proposed for Terrace-Kitimat area

Plans for an oil refinery between Terrace and Kitimat have been firmed up.

Pacific Future Energy has submitted its formal proposal to build a facility that would convert bitumen to fuel products for export.

The company would take a near-solid form of bitumen, what it has branded “neatbit”, by rail to the facility where it would be converted to products like diesel and gasoline for shipment to world markets.

It says “neatbit”, unlike diluted bitumen, has a consistency similar to peanut butter and is stable, has a low flammability, and is classified as non-dangerous for transport.

Robert Delamar is the CEO of Pacific Future Energy.

He says they’ve passed on the project information to five area First Nations.

But unlike past projects, Delamar says they’ll wait for an invitation before setting up an information session.

The project is valued at $15 billion and would create an estimated 3,500 jobs during construction and 1,000 once up an running.

Pacific Future says construction could begin as early as 2018 with production by 2021.

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