WWW.LEXPERT.CA
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2017
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LEXPERT 21
Herbst, QC, Ludmila B. Farris, Vaughan,
Wills & Murphy LLP (604) 661-1722 lherbst@farris.com
Ms. Herbst is a litigator whose practice focuses on commercial, regulatory and
constitutional cases. She represents clients before all levels of court, arbitrators
and tribunals such as the BC Utilities Commission. She has been counsel on
matters related to rate design, revenue requirements, project development,
power supply, capital expenditures and many other energy-related matters.
Henrie, Pierre-Paul Norton Rose Fulbright Canada LLP
(613) 780-3777 pierre-paul.henrie@nortonrosefulbright.com
Mr. Henrie practises corporate and commercial law, with particular emphasis
on matters relating to project financings, private placements, secured lending
transactions, mergers and acquisitions, contract negotiations, technology
contracting, licensing and technology-related transactions. Mr. Henrie is
managing partner of our Ottawa office and Ottawa chair of our business
law group.
Henderson, Philip J. Stikeman Elliott LLP
(416) 869-5691 phenderson@stikeman.com
Mr. Henderson's practice focuses primarily on corporate finance, capital
markets, M&A and securities law matters. He is co-head of the firm's Financial
Products & Services Group and advises clients on complex corporate and
securities law matters in a variety of sectors including financial institutions,
energy, investment funds, structured products and derivatives.
Heard, Joel A. Osler, Hoskin & Harcourt LLP
(416) 862-6847 jheard@osler.com
Mr. Heard's practice focuses on construction law in relation to energy,
infrastructure and other large capital projects. He advises clients
on contract documentation, risk identification and mitigation, project
structuring, procurement, operations and maintenance, financing
and project execution issues.
Haythorne, John S. Dentons Canada LLP
(604) 691-6456 john.haythorne@dentons.com
Mr. Haythorne is the Vancouver lead and National Co-Chair of Dentons Canada's
Infrastructure and PPP group. He practises in the areas of construction,
engineering and infrastructure. He is particularly experienced in public-private
partnerships, advising owners on the structure and administration
of procurement and legal issues relating to design and construction.
Harvie, Alan S. Norton Rose Fulbright Canada LLP
(403) 267-9411 alan.harvie@nortonrosefulbright.com
Mr. Harvie has practised energy and environmental/regulatory law since
1989 and regularly deals with commercial, operational, environmental
and regulatory issues, especially for the upstream oil and gas, energy,
waste disposal and chemical industries. He is a member of our energy
and environmental departments.
LEXPERT-RANKED LAWYERS
million barrels per day (b/d) of oil sands pro-
duction to markets across North America
and around the world," the Canadian Asso-
ciation of Petroleum Producers announced
in its 2017 Crude Oil Forecast, Markets and
Transportation report. "Overall, Canadian
oil production will grow to 5.1 million b/d in
2030, up from 3.85 million b/d in 2016. is
1.3-million-b/d growth will be driven by a 53
per cent increase in forecasted oil sands pro-
duction of up to 3.7 million b/d in 2030 from
2.4 million b/d in 2016."
Ross believes there still is an economic need
to get natural resource products to markets
outside of the North American continent.
ere still is a price difference from what it
can fetch in North America and in the Euro-
pean or Asian markets."
Nevertheless, if Erickson was asked by a client if it
should get into the pipeline business, his answer, he
says, would be blunt: "Don't." Instead, he might steer
them towards acquiring an existing pipeline. "You see
more in the midstream industry companies looking to
grow by acquisition. In today's world, it's easier to grow
by buying as opposed to developing. You see that in
spades. Two very large domestic companies have done
very significant acquisitions over the past year."
Erickson has also seen a reduction "of new foreign
money coming in for developing [pipeline] projects
in Canada." Although Canada remains an attractive
country for foreign investment in large pipeline proj-
ects, primarily because of its stable economy and stable
political environment, the oen overwhelming chal-
lenges that must be overcome to get a project approved
can turn some investors away. "Certain delays that have
taken place may be a concern for international investors
for whom capital is very fluid and for whom regulatory
frameworks and timeframes may differ substantially in
different parts of the world," says Ross.
A possible sign of what might lie ahead was seen in
July when Petronas, a Malaysian oil and gas company,
cancelled its Pacific Northwest LNG (liquefied natural
gas) project in BC, comprising about half of a proposed
$36-billion investment. A weakened economic market
and ongoing opposition concerning greenhouse gas
emissions were cited as the reasons.
While companies entering the pipeline business
should do "as much upfront work in developing a clear
strategy at the outset" to increase their chances of suc-
cess, says Treacy, she also believes all stakeholders need
to work to reduce the adversarial environment in which
projects tend to become ensnared.
"What we really need is strong leadership in this area
from all fronts," she says. "Especially when it comes to
explaining the projects and why they are beneficial. ...
Uncertainty in this area is not in the interest of anyone.
I'm very hopeful, however, that there can be a better
regulatory process developed that can approve projects
in a highly efficient manner."
