Canada to fast-track oil pipeline designed to diversify economy away from US
PBA•Canada will fast-track approval of the proposed Pacific Link crude oil pipeline to its west coast, which Ottawa says could generate more than C$20 billion a year in GDP.
1. Federal review process
Prime Minister Mark Carney said Ottawa would designate the Pacific Link pipeline a project of national interest, allowing it to proceed through a single federal regulatory review. Ottawa aims to complete the process by September 1, 2027.
2. Project estimates
The proposed pipeline would carry 1 million barrels of oil a day. Ottawa says it would create 140,000 jobs, generate more than C$20 billion in annual GDP and bring C$100 billion in government revenue by 2060.
3. Ownership and context
Government-owned Trans Mountain Corp. will build the pipeline in coordination with Pembina Pipeline Corp. Alberta estimates the project could cost C$35.2 billion to C$43.7 billion. The federal and Alberta governments will be majority owners, and Indigenous communities will be offered at least a 10% ownership interest.
