Imperial sticks by Mackenzie pipe

Picture shows a pressure-gauge set on a gas pipe covered with snow at the gas-compressor station in the small Ukrainian city of Boyarka, near Kiev on January 2, 2009. Russia cut off gas supplies to Ukraine yesterday and sharply raised rates after failure to agree on a new contract, heightening concerns over European dependence on Russian-controlled energy supplies. A Ukrainian delegation will begin touring European capitals today to discuss gas delivery problems after Russia cut off supplies to neighbouring Kiev, the foreign ministry was quoted as saying. AFP PHOTO/ SERGEI SUPINSKY

SERGEI SUPINSKY

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By Wire reports

 12 June 2009 21:58 GMT

US supermajor ExxonMobil’s backing of an Alaska pipeline does not change plans for proponents of the C$16.2 billion (US$14.5 billion) Mackenzie gas line as they struggle to move past delays and rising costs, the lead partner of the Canadian project said.



However, if the massive Alaska pipeline gains enough momentum with ExxonMobil's participation to put construction on similar schedules, the already-fragile economics of Mackenzie would suffer, Imperial Oil said.

"The announcement yesterday doesn't change our approach to advancing the project at all," Imperial spokesman Pius Rolheiser told Reuters.

"The proponent group remains committed to our project and we're focused on doing the work that we can, and that includes completing the regulatory process, completing the fiscal discussion with the government and completing access and benefits agreements with the First Nations along the…

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