As Canadian Prime Minister Justin Trudeau considers whether to approve Teck Resources' Frontier oil sands project, roughly 20 others sit on the shelf as companies delay investment decisions hoping for new pipelines and higher prices.
Others are edging forward. A government rejection of Frontier would increase risk to future applications, and could also boost the value of projects that have been approved, Eight Capital analyst Phil Skolnick wrote. "We need to see these proposed pipelines advance to a stage that it is absolutely clear that we can count on them," Cenovus Chief Executive Alex Pourbaix said in an interview. Opposition by indigenous groups and environmental activists have held up several pipeline projects.
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