The Alberta government is making it tougher for foreign companies to invest in energy infrastructure, which legal experts say is having an impact on the amount of investment in the province.Restricting foreign ownership in Alberta's energy sector could impact investment throughout the industry, including refineries, renewable energy projects and pipelines.
As a result, the Alberta government's Foreign Ownership of Land Administration is making it more difficult for foreign companies to buy existing energy industry infrastructure. 'It is rarely easy, not quick and a very cumbersome process' for foreign companies to invest in energy infrastructure in Alberta, says Calgary lawyer Alixe Cameron, with Bennett Jones.
"It's definitely on our radar," she said. "It is rarely easy, not quick and a very cumbersome process" for deals to be approved."But what has changed is the policies around the legislation and how the Foreign Ownership of Land Administration is interpreting those same regulations. They are taking a much narrower approach."