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Canada Unveils Framework for New 1 Million Barrel West Coast Pipeline
Federal and Alberta governments along with five major oil sands producers released a backgrounder Monday outlining commitments for the West Coast Oil Pipeline. The project would add 1 million barrels per day of export capacity to the British Columbia coast. The deal ties pipeline progress to emissions reductions and carbon capture investments.
Jul 14, 6:00 PM·1m read1 source
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Canada’s federal government, the Alberta provincial government, and five leading oil sands producers released a backgrounder document Monday that sets out commitments for the West Coast Oil Pipeline project. The pipeline is planned to carry an additional 1 million barrels per day of oil sands crude from Alberta to the British Columbia coast for export.
The document states that Alberta will provide financial supports to enable production growth required for the new pipeline and for optimization of the Trans Mountain Expansion.
The federal government’s approval of the 1-million-bpd capacity was conditioned on the producers committing to the Pathways carbon capture and storage project and to reductions in operational emissions. The five producers named in the agreement are Canadian Natural, Cenovus, ConocoPhillips Canada, Imperial Oil, and Suncor.
com reported that the federal government highlighted emission reduction goals, job creation, and greater energy sovereignty through sales to buyers other than the United States.
Alberta stated that the producers have received approval to double oil sands output and that the deal unlocks billions of dollars in investments needed for the West Coast projects. The companies, operating as the Oil Sands Alliance, agreed to advance emissions reduction projects according to agreed milestones and to prioritize Canadian technologies and supply chains.
The federal government agreed to establish a regulatory working group with the producers, advance financing for carbon capture operating costs, and review industry concerns about the CCUS Investment Tax Credit.
