Special consultations on Enbridge’s Line 9B reversal: the Board of Trade reiterates its support for this structuring project

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Added on 4 December 2013 in Press releases

Montréal, December 4, 2013 – The Board of Trade of Metropolitan Montreal reiterated its support today for Enbridge’s Line 9B reversal before the National Assembly Commission on Agriculture, Fisheries, Energy and Natural Resources. For the Board of Trade, the reversal project proposed by Enbridge will contribute to the economic development of Quebec and Greater Montréal.

“A stable supply at a lower cost is one of the keys to ensuring the competitiveness of Quebec refineries,” said Michel Leblanc, President and CEO of the Board of Trade of Metropolitan Montreal. “And yet, the refining industry in the east of the country is captive to overseas oil supply, which is more expensive than oil from Canada. Almost 70% of Quebec’s commercial deficit results from our imports of crude oil. We cannot allow ourselves not to be connected to the main North American supply networks.”

“The Quebec oil industry, for which the majority of businesses are located in the city, will also benefit from the consolidation of refinery activities,” Mr. Leblanc said. “In the east end of Montréal alone, this represents close to 50 companies and over 3,500 direct, well-paid jobs. This industry also benefits a number of sectors of our economy, whether construction, engineering or professional services.”

“Questions related to the environmental impact and public safety are important and legitimate,” said Michel Leblanc. “Enbridge must, in complete transparency, reassure the public and public authorities as to the flawless maintenance of all of facilities. The company must also demonstrate that it has the insurance and funds necessary to respond to any emergency. From the point of view of sustainable development, we encourage Enbridge to commit to supporting Quebec companies that are developing new green technologies for the energy sector. The metropolitan area has a rich ecosystem in this sector, and Enbridge must be an integral part of it.”

“Greater Montréal has many assets that allow it to play a leading role in the energy and petrochemical sectors,” Michel Leblanc said. “We hope that the government will take note of this driving role of the city and its business community, and encourage the Enbridge Line 9B reversal project.”

Consult the Board of Trade’s brief submitted to the Commission on energy issues in Quebec by clicking here.

About the Board of Trade of Metropolitan Montreal
The Board of Trade of Metropolitan Montreal is made up of some 7,000 members. Its mission is to represent the interests of the business community of Greater Montréal and to provide individuals, merchants, and local businesses of all sizes with a variety of specialized services to help them achieve their full potential in terms of innovation, productivity, and competitiveness. The Board of Trade is Quebec's leading private economic development organization.

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Source :

Board of Trade of Metropolitan Montreal
Michelle LLambias Meunier
Advisor, Media Relations
Board of Trade of Metropolitan Montreal
Tel.: 514 871-4000, ext. 4042
mllambias@ccmm.qc.ca

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