Looking at government financial support for potential expansion of Canadian facilities.
Legislative Proposal, Bill or Resolution, Regulation
Canada Transportation Act – NOVA Chemicals remains vigilant of provisions in the Transportation Act ensuring reliability and stability of rail service servicing NOVA Chemicals’ ethylene/polyethylene facilities, and co-products such as butane and propylene.
Possible legislation to be introduced dealing with climate change; Regulatory Framework for Air Emissions – proposed changes to the Clean Air Act and the Canadian Environmental Protection Act (CEPA) regarding the impact of federal legislation on climate change and the competitiveness of the petrochemicals sector.
Pursue eligibility of planned projects under the Technology Fund provision (precertification) of the Regulatory Framework for Air Emissions.
Policies or Program
Arranging meetings to get information and eligibility requirements on the Investing in Business Growth and Productivity (IBGP) funding being made available through the Southern Ontario Prosperity Initiatives.
Canada's policies government GHGs and other emissions as it relates to petrochemical/chemical facilities. Canada's policies to incent more private sector investment in research and development to combat climate change. Overall investment climate for petrochemicals in Canada versus competing jurisdictions.
Immigration - measures or provisions of interest would be in reference to VISA applications.
NOVA Chemicals will be seeking proactive federal policy that recognizes the importance of value-add in the energy supply chain and accruing maximum benefits from energy resources and projects for the benefit of Canadians.
Rail Transportation - to mitigate the risks of reliability to rail service which is an important mode of product shipment, due to strikes or other similar events.
Tax Policy – we continue to pursue accelerated Capital Cost Allowance (CCA) to strengthen the viability of capital projects (eg. writing off / depreciation of existing assets).
The Federal government's policy and program approach to value-add in the energy sector, and ways this may impact the export of bitumen to foreign markets.
Policies or Program, Regulation
Potential NEB regulation of former NGTL, and consideration of how NGLs will be handled, and streaming of lean gas.
Regulation
Continue to engage the Government of Canada re: forthcoming regulations governing Green House Gas (GHG) emissions, and air emissions other than GHG in the longer-term.
