Mackenzie gas project participants end JV

CALGARY, AB — The Mackenzie gas project joint-venture participants announced that they have decided not to proceed with the project at this time and are dissolving the joint venture.

Since work on the Mackenzie gas project was initiated in 2000, the North American natural gas market has changed significantly. Mackenzie gas is currently not economically competitive with other sources of supply in North America, due to a combination of factors, including high project costs and the continued growth of low-cost North American unconventional gas supplies.

The joint-venture participants in the project include Imperial Oil Resources Limited, ConocoPhillips Canada, ExxonMobil Canada and the Aboriginal Pipeline Group.

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