finance
Alberta and Ottawa Approve New Oil Pipeline to Pacific Coast
Alberta Premier Danielle Smith and Prime Minister Mark Carney announced a new pipeline that will carry Canadian crude to southwestern British Columbia. The project aims to increase access for Canadian producers to Asian markets.
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The pipeline is intended to give Canadian producers additional routes to Asian buyers.
The announcement marks a change from earlier federal policy that blocked new pipelines under pressure from environmental groups and a focus on reducing hydrocarbon use. Prime Minister Carney, who previously supported the energy transition, has since taking office indicated willingness to approve projects that expand Canadian oil and gas exports, including LNG facilities.
The same day, Carney confirmed the existing tanker ban along British Columbia’s North Coast will remain in place.
Because of the ban, the pipeline will end in southwestern British Columbia rather than using northern export routes. Construction timelines and capacity figures were not released in the announcement.
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