Alberta
Province teaming up with Calgary company for a $2 Billion dollar upgrading facility near Edmonton

From the Province of Alberta
Made-in-Alberta plan moves $2-billion investment forward
Premier Rachel Notley’s Made-in-Alberta energy strategy is taking a major step forward in diversifying the economy, creating new jobs and adding more value to our resources.
Calgary-based Value Creation Inc. (VCI) and its wholly owned subsidiary Value Chain Solutions Inc. are on track to invest $2 billion in an upgrading facility in the Alberta Industrial Heartland, just east of Edmonton, which will create more than 2,000 construction jobs and another 200 full-time positions once the facility is up and running.
This is just the first of several new projects made possible through the Made-in-Alberta strategy to do more upgrading and refining of the province’s oil and gas resources here at home.
“We’re taking the bull by the horns and fighting to get full value for our oil. Albertans have been talking about this for decades, and we’re not content to sit on the sidelines and let good jobs and investment pass Alberta by for places like Louisiana. That has happened for too long and it has got to stop. We’re making sure the next generation of Albertans have the opportunities they deserve in a stronger, more resilient, more diversified province.”
VCI’s leading-edge facility will upgrade diluted oil sands bitumen into a higher-value crude blend that can flow easier through pipelines. This provides significant cost savings to industry because it would reduce the need for diluent, while increasing pipeline capacity by up to 30 per cent, and providing access to more refineries around the world that cannot currently accept Alberta’s oil sands bitumen.
The partial upgrading technology is expected to reduce greenhouse gas (GHG) emissions by 16 per cent per barrel compared to current processes used to extract bitumen.
“We here at Value Creation Inc. and Value Chain Solutions Inc. look forward to building upon Premier Rachel Notley’s vision of diversifying our energy markets and maximizing the value of the resources owned by Albertans. Our project is going to create good, long-term jobs with game-changing technology for low-cost upgrading and strong environmental performance.”
Through a letter of intent, the province has agreed to support the project through a $440-million loan guarantee, subject to reaching a final agreement. In all, Alberta is providing more than $3 billion in support for crude oil and bitumen partial upgrading and petrochemical upgrading, which turns Alberta natural gas into higher-value products like plastics.
“This government’s Made-in-Alberta upgrading program is a crucial element to ensuring these value-add investments happen in Alberta. Alberta’s Industrial Heartland is a key economic driver of the province’s economy, with potential for $30 billion in new investment by 2030. Upgrading more of our resources here at home means more jobs and more investment in our local communities, with new value chains that will help diversify our economy for generations to come.”
Construction of the Strathcona County-based project is already underway, with some foundational infrastructure in place and design work nearly completed. The plant is expected to be operational in 2022. Once completed, this would be the first commercial-scale partial upgrader in the world using this new technology, which VCI has been developing over several years.
VCI’s facility is just the first of others to be announced under Premier Notley’s Made-in-Alberta strategy, which is focused on creating jobs, adding value to our energy resources and exporting our products to new markets. This plan is at the heart of diversifying Alberta’s energy sector and making sure we get full value for the resources owned by all Albertans.
VCI project background
- The first phase of the Value Chain Solutions – Heartland Complex (VCS-H) will use 77,500 barrels-per-day (bpd) of diluted bitumen to produce a medium synthetic crude oil and an ultra low sulfur diesel, which is a cleaner-burning transportation fuel used here at home and around the world.
- Founded in 1999 and based in Calgary, Value Creation Inc. has nearly 1,200 square kilometres of oil sands land holdings in Alberta.
- The company has developed a plan to engage with Indigenous communities across the region for employment, contracting and long-term alliance opportunities.
- VCI’s technology is expected to help reduce GHG emissions by up to 16 per cent compared to current processes. This is the equivalent to cutting 620,000 tonnes of harmful emissions per year, or removing 135,000 cars from the road.
- The project is expected to generate roughly $2.5 billion in revenue to the province over the 30-year life of the project.
- Strathcona County is expected to receive about $280 million in municipal tax revenue over the life of the project.
Made-in-Alberta energy strategy
Partial upgrading of bitumen
- $1 billion in grants and loan guarantees to encourage companies to build bitumen upgrading facilities to:
- increase the value of our energy resources before shipping
- allow more volume to be shipped through pipelines
- Partial upgrading reduces the thickness of oil sands bitumen so it can flow through pipelines more easily, without having to be blended with diluent, or as much diluent, a thinning agent. Benefits include:
- higher prices for our resources
- more access to international markets
- cost savings on diluent for industry
- fewer emissions by removing high carbon content
- Partial upgrading is cheaper to do than full upgrading because it requires less processing.
- In 2016, oil sands companies in Alberta purchased $13.3 billion worth of diluent, much of it imported.
- Bitumen that goes to market without upgrading or refining has historically been sold at lower prices compared to other crude oils.
- Partial upgrading could help reduce this discount by improving the quality of the product and increasing the number of refineries capable of processing it.
Petrochemical upgrading
- Total support will now reach $2.1 billion to unlock about $20 billion in private-sector investment.
- This would help create as many as 15,500 jobs during construction of multiple petrochemical facilities across the province.
- Inter Pipeline’s Heartland Petrochemical Complex is already under construction as a result of this program:
- $3.5 billion private investment
- 2,300 construction jobs, 180 operational jobs
- The complex processes propane into plastic pellets called polypropylene, which is used around the world making kids’ toys, electronics and automotive parts.
Alberta
Big win for Alberta and Canada: Statement from Premier Smith

Premier Danielle Smith issued the following statement on the April 2, 2025 U.S. tariff announcement:
“Today was an important win for Canada and Alberta, as it appears the United States has decided to uphold the majority of the free trade agreement (CUSMA) between our two nations. It also appears this will continue to be the case until after the Canadian federal election has concluded and the newly elected Canadian government is able to renegotiate CUSMA with the U.S. administration.
“This is precisely what I have been advocating for from the U.S. administration for months.
“It means that the majority of goods sold into the United States from Canada will have no tariffs applied to them, including zero per cent tariffs on energy, minerals, agricultural products, uranium, seafood, potash and host of other Canadian goods.
“There is still work to be done, of course. Unfortunately, tariffs previously announced by the United States on Canadian automobiles, steel and aluminum have not been removed. The efforts of premiers and the federal government should therefore shift towards removing or significantly reducing these remaining tariffs as we go forward and ensuring affected workers across Canada are generously supported until the situation is resolved.
“I again call on all involved in our national advocacy efforts to focus on diplomacy and persuasion while avoiding unnecessary escalation. Clearly, this strategy has been the most effective to this point.
“As it appears the worst of this tariff dispute is behind us (though there is still work to be done), it is my sincere hope that we, as Canadians, can abandon the disastrous policies that have made Canada vulnerable to and overly dependent on the United States, fast-track national resource corridors, get out of the way of provincial resource development and turn our country into an independent economic juggernaut and energy superpower.”
Alberta
Energy sector will fuel Alberta economy and Canada’s exports for many years to come

From the Fraser Institute
By any measure, Alberta is an energy powerhouse—within Canada, but also on a global scale. In 2023, it produced 85 per cent of Canada’s oil and three-fifths of the country’s natural gas. Most of Canada’s oil reserves are in Alberta, along with a majority of natural gas reserves. Alberta is the beating heart of the Canadian energy economy. And energy, in turn, accounts for one-quarter of Canada’s international exports.
Consider some key facts about the province’s energy landscape, as noted in the Alberta Energy Regulator’s (AER) 2023 annual report. Oil and natural gas production continued to rise (on a volume basis) in 2023, on the heels of steady increases over the preceding half decade. However, the dollar value of Alberta’s oil and gas production fell in 2023, as the surging prices recorded in 2022 following Russia’s invasion of Ukraine retreated. Capital spending in the province’s energy sector reached $30 billion in 2023, making it the leading driver of private-sector investment. And completion of the Trans Mountain pipeline expansion project has opened new offshore export avenues for Canada’s oil industry and should boost Alberta’s energy production and exports going forward.
In a world striving to address climate change, Alberta’s hydrocarbon-heavy energy sector faces challenges. At some point, the world may start to consume less oil and, later, less natural gas (in absolute terms). But such “peak” consumption hasn’t arrived yet, nor does it appear imminent. While the demand for certain refined petroleum products is trending down in some advanced economies, particularly in Europe, we should take a broader global perspective when assessing energy demand and supply trends.
Looking at the worldwide picture, Goldman Sachs’ 2024 global energy forecast predicts that “oil usage will increase through 2034” thanks to strong demand in emerging markets and growing production of petrochemicals that depend on oil as the principal feedstock. Global demand for natural gas (including LNG) will also continue to increase, particularly since natural gas is the least carbon-intensive fossil fuel and more of it is being traded in the form of liquefied natural gas (LNG).
Against this backdrop, there are reasons to be optimistic about the prospects for Alberta’s energy sector, particularly if the federal government dials back some of the economically destructive energy and climate policies adopted by the last government. According to the AER’s “base case” forecast, overall energy output will expand over the next 10 years. Oilsands output is projected to grow modestly; natural gas production will also rise, in part due to greater demand for Alberta’s upstream gas from LNG operators in British Columbia.
The AER’s forecast also points to a positive trajectory for capital spending across the province’s energy sector. The agency sees annual investment rising from almost $30 billion to $40 billion by 2033. Most of this takes place in the oil and gas industry, but “emerging” energy resources and projects aimed at climate mitigation are expected to represent a bigger slice of energy-related capital spending going forward.
Like many other oil and gas producing jurisdictions, Alberta must navigate the bumpy journey to a lower-carbon future. But the world is set to remain dependent on fossil fuels for decades to come. This suggests the energy sector will continue to underpin not only the Alberta economy but also Canada’s export portfolio for the foreseeable future.
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