Pipeline 'will happen'

Photo: CTV

The chairman of Irving Oil says the proposed Energy East Pipeline being considered by federal regulators "will happen," but it's taking too long.

Arthur Irving says Alberta's struggling economy badly needs the pipeline to sell its fossil fuels, while his firm remains eager to form a partnership with TransCanada (TSC:TRP) to build a deepwater terminal in the Bay of Fundy where tankers can ship the crude to the world.

The Saint John, N.B.-based businessman, made the comments during an announcement today of the completion his company's $80-million refurbishment of its Halifax harbour terminal.

The Alberta to Saint John, N.B., pipeline project has faced stiff opposition from some First Nations groups and environmentalists, as well as the mayor of Montreal.

The National Energy Board panel reviewing the proposal was recused last month after it became public that two of the three panellists met last year with former Quebec premier Jean Charest, then a consultant for the project proponent TransCanada.

Natural Resources Minister Jim Carr has said the reforming of a panel means the review period for the project could be delayed.