1. Overview of Key
Mega Projects in
Atlantic Canada
Patrick Brannon,
Research Analyst
Atlantic Provinces Economic
Council
Halifax, Nova Scotia
November 15, 2012
2. APEC’s 2012 Major Projects Inventory
Total Value of APEC’s Major Projects
Inventory, $billion
• APEC’s Major Projects Inventory
120 NB
(MPI) is an annual survey of large
project activity in Atlantic Canada
NS
100 PE
NL • A major project is any capital
80
project valued at $25 million+
60
40 • The 2012 MPI identified 357 major
investment projects in various
stages of development across
20
Atlantic Canada with a total
potential value of $100 billion
0
2007 2008 2009 2010 2011 2012
Source: APEC Major Projects Inventory
4. Total Value of APEC’s Major Projects Inventory
Major Projects Inventory (MPI) value by
sector, Atlantic Canada
MAN
20% •Strong growth
Remaining
Sectors in investment
ELE
12%
19% potential this
year.
TRA
7% •Manufacturing,
HOU energy and
12%
O&G
mining projects
MIN account for 70%
18%
13%
of the total
Source: APEC Major Projects Inventory
5. Value of Current-Year Major Project Investment
($billions)
8
7
•Newfoundland
and Labrador
6 continues to
dominate major
5
project activity
4 in Atlantic
Canada
3
•Maritime
2 Newfoundland & Labrador
provinces
Maritimes
1 slowing due to
lower public
0 spending
2007 2008 2009 2010 2011 2012 2013
Source: APEC Major Projects Inventory
6. Estimated Value of Major Project Investment in
Labrador
($millions)
3000 In Development
Underway/Near Approval
2500
2000
1500
1000
500
0
2008 2010 2012 2014
Source: APEC Major Projects Inventory
7. Growing Investment from Companies Based in Asia and
South America
Investment by foreign companies in Atlantic Canada
major projects by location, 2012 (% of total)
Europe •US energy
14% US
companies lead
42% overall
investment
trend
•Asia and Brazil
Asia
15%
backing Labrador
mining projects
Brazil
29%
Source: APEC Major Projects Inventory
8. Substantial Large Project Investment Underway or
in Planning Stages Across Canada
Prov. Name Value ($b) Start End
NS National Shipbuilding Procurement Strategy 25.0 2015
AB Frontier Oil Sands Phase 1&2 – Teck Resources 14.5 2016
AB Voyageur' Oil Sands Third Upgrader - Suncor 11.6 2011 2016
AB Kearl Lake' Oil Sands Phase 1 - Imperial Oil 10.9 2009 2012
AB Fort Hills' Oil Sands Mine - Suncor 9.6 2012 2016
AB Kearl Lake' Oil Sands Phase 2 - Imperial Oil 8.9 2012 2015
AB Joslyn North Mine - E&P Canada 8.9 2013 2017
NL Hebron Oil Project - ExxonMobil 8.3 2012 2024
NL/NS Muskrat Falls Hydro – Nalcor/Emera 7.4 2012 2017
QC Romaine Complex - Hydro Quebec 6.5 2009 2020
AB/BC Northern Gateway Pipeline - Enbridge 5.5 2014 2015
QC Eastmain-1A-Rupert - Hydro-Quebec 5.0 2007 2012
AB Bitumen Upgrader – Northwest Redwater 5.0 2013 2014
NS LNG Export Terminal 5.0 2014 2018
Source: APEC Major Projects Inventory,
Provincial Gov’t Major Project Inventory Lists
9. Exploration Interest in Greenland and the North
Greenland
• Oil and Gas Exploration (CAIRN, Statoil)
• Mining activity (Aluminum-Alcoa smelter, Uranium, lead-
zinc, precious metals and gems)
• $100 million on mineral exploration in 2011
Canada’s North
• Eastern Arctic-Baffin Island
• Northern Arctic-Sverdrup Basin
• Mackenzie Delta/Beaufort Sea
10. Mining and Offshore Investment Could Push Peak
Activity Out Beyond 2016
Estimated investment in mega projects (over $500 million)
6000
• High level of
5000 NB investment
expected to
NS
4000 continue for
NL several years
3000
• Successful
2000 mining and
offshore
1000 exploration
could add to
0 these levels
2005 2007 2009 2011 2013 2015
Source: APEC Major Projects Inventory
