West Coast oil pipeline becomes 1st project designated in national interest
- On Thursday, Prime Minister Mark Carney and Alberta Premier Danielle Smith announced the Pacific Link pipeline as the first project designated of national interest under the Building Canada Act in Fort McMurray.
- Spanning 1,250 kilometres, the project transports one million barrels of crude oil daily from Bruderheim, Alta., to Delta, B.C., involving Trans Mountain Corp., Alberta, and Pembina Pipeline Corporation at a cost between $35.2 billion and $43.7 billion.
- Offering Indigenous communities a minimum of 10 per cent ownership interest, the project is projected to boost Canada's GDP by up to $30 billion annually while creating up to 140,000 jobs.
- Listing the project on Schedule One of the Building Canada Act shifts federal focus from feasibility assessment to construction planning, with conditions to be finalized by September 1, 2027.
- By diversifying exports away from the U.S., Canada expects an additional $10 billion in annual revenues as it accesses higher-priced international markets; Carney called this an "important day for Alberta and for Canada.
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Canada fast-tracking oil pipeline designed to diversify economy away from US
Canada will fast track the approval process for a new proposed crude oil export pipeline to its west coast that could generate over C$20 billion (US$14 billion) a year in GDP, Prime Minister Mark Carney said on Thursday. The pipeline, which was announced in July, is a crucial part of Carney’s bid to diversify the economy away from the United States and help lessen the effect of US President Donald Trump’s tariffs. Carney said Ottawa would offic…
Carney lists West Coast Oil Pipeline (Pacific Link) as project of national interest
PRIME Minister Mark Carney on Thursday announced that the Government of Canada is officially listing the new West Coast Oil Pipeline, now known as Pacific Link, as a project of national interest. Canada and Alberta will share equal ownership of Pacific Link. Indigenous communities will be offered a minimum of 10% ownership interest, financed through […]
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