Yellowknife (July 02/01) - Falling natural gas prices may close the window on the proposed Mackenzie valley pipeline, but one project proponent said there is still time for discussion.
"No one expected that a project of this complexity could be covered in a single meeting," Harvie Andre said Friday after Deh Cho leaders again declined to endorse a pipeline through their territory.
Andre is chairman of Arctigas Resources Ltd., the Canadian affiliate of Arctic Resources, a Houston-based company formed to build a pipeline from Alaska through the Mackeznie valley to southern markets.
"Gas prices are going down," Andre said. "There is a window of opportunity; when it will close I don't know -- but there is no drop-dead date for the pipeline."
As Deh Cho First Nations wound up their annual assembly Thursday in Kakisa, Arctic Resources announced growing support for a 100 per cent aboriginal-owned pipeline.
Aboriginal leaders who represented the Tulita district and K'ahsho District Land owners and a representatives from an Alberta aboriginal group agreed at a meeting in Norman Wells to support the project, the announcement said.
Deh Cho First Nations was represented at the meeting by an official observer.
"We're anxious to continue these discussions with Deh Cho First Nations," said Bob Murphy, president of Arctic Gas.
The Ernie McDonald Land Corp., one of three Tulita district land owners, signed a framework memorandum with Arctic Resources and the Fort Norman Metis Land Corp. also agreed to sign on.
Andre said the $4 billion project would be financed through an international bond issue. Arctic Resources would manage the project and a consortium of companies -- some of them aboriginal -- would operate the pipeline.
"Aboriginal groups can benefit financially as owners and operators, but the greatest potential is the inside track they will have to economic spin-offs," Andre said.
