Shell Looking to Exit Mackenzie Pipeline Project

Royal Dutch Shell is looking to sell its 11% stake in the $16.2 billion Mackenzie Gas Project, a beleaguered 1,200-km natural gas pipeline project conceived to connect large gas reserves in the Mackenzie Delta region to Alberta. Shell, along with majority shareholder Imperial Oil Resources, ConocoPhillips Canada and ExxonMobil Canada, formed a consortium in 2004 to build the pipeline. Slated to come online in 2010, the project only just received approval a few months ago following extensive regulatory delays and environmental impact analysis. Canada’s...

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