Carney seals deal for western Canada oil pipeline
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Montreal: Canadian Prime Minister Mark Carney has reached an investment agreement with British Columbia to develop a massive oil pipeline connecting Alberta to Canada's Pacific coast, paving the path for greater petroleum exports to Asia and reducing the country's reliance on the US market.
The proposed pipeline will transport up to one million barrels of oil per day, mainly along the existing Trans Mountain corridor. The federal government, Alberta, the government-owned Trans Mountain Corporation, and the Pembina Pipeline Corporation will form a public-private partnership to establish the project. Construction is scheduled to begin in 2027, pending regulatory permissions and Indigenous consultations.
The deal also maintains the government ban on large oil tankers along British Columbia's ecologically sensitive northern coast, while enabling the new pipeline to follow a southern route to the Pacific. The move comes as Canada strives to diversify its export markets amidst ongoing trade concerns with the United States.
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