Prime Minister Mark Carney has declared a new pipeline from Alberta to British Columbia's (B.C.) coast a project of national interest.
He was in Fort McMurray on Thursday with Alberta Premier Danielle Smith, sharing more details on the pipeline project that's been in the works for months.
By declaring the project a national interest, it will avoid red tape by proceeding through the Major Projects Office (MPO), a single federal regulatory review process.
"Canada has a once-in-a-generation opportunity to become a global energy superpower. To create hundreds of thousands of good jobs. To transform our economy. To diversify our trade. To become less reliant on a single trade partner," said Carney.
Now being called Pacific Link, the pipeline is estimated to generate over $20 billion in GDP per year and $100 billion in government revenue by 2060.
Route mapping, ecological surveys, cost estimates, procurement, and workforce planning are expected to be done by the MPO over the next 11 months, with a firm deadline of September 1, 2027, being set.
"[This announcement] marks an important step toward expanding market access, strengthening our economy, and reinforcing Alberta’s position as a reliable global energy supplier," added Smith.
The federal and Alberta governments will own an equal share of the project, with Indigenous communities being offered a minimum of 10 per cent of ownership interest.
An exact route has not been chosen, but Carney explained that it will travel through southern Alberta and B.C. to ensure B.C.'s vast nature in the northern part of the province remains undisturbed.
