Plans For Bitumen Refinery Ramp UpSeptember 22, 2015 5:48pm
The Chairman of the Sarnia-based Bowman Centre is convinced that in 2016, possibly sooner, a commercial partner will be announced for the ambitious $10-billion SABER project.
The Sarnia-Lambton Advanced Bitumen Energy Refinery would process heavy crude from the Alberta Oil Sands and has been described as a potential game-changer for the economy.
The Bowman Centre, located at the Western Research Park, says 30 local organizations have recently committed over $100,000 to take the project to a new level.
Clem Bowman says a commerical proponent is needed to update marketing, logistics and margin analysis reflecting current crude oil prices.
He says with Prime Minister Harper’s indication of support in principle, they can proceed with or without the support of the provincial government.
A group of former Chemical Valley executives launched the project saying Canada is losing $2.5-billion a year by exporting, rather than processing oil sands bitumen at home.
They say there is an existing pipeline from Alberta to Sarnia, access to international markets and serviced industrial land available.
There is also a commitment to build a leading edge plant in terms of energy and greenhouse gas efficiency.
(With files from Josh Boyce)