What to know about Alberta’s proposed pipeline to B.C.’s South Coast

Alberta formally pitched its vision for a new oil pipeline to the west coast of British Columbia on Thursday, hours after the province reached a political compromise with Ottawa to clear a path for the project.

The proposed pipeline would generally follow the existing footprint of the federally-owned Trans Mountain pipeline, running from Bruderheim, northeast of Edmonton, to the Roberts Bank export terminal in Delta, B.C., south of Vancouver.

Smith said the project would send more than one million barrels to Asian markets every day, reducing Canada’s reliance on the U.S. Carney, who joined Smith for the announcement in Calgary, said the route made the most sense because another pipeline is already in place and serves as the “gateway to the world’s fastest-growing markets.”

“This is more than just an accord. It’s also an approach that gives certainty to our businesses to build,” the prime minister said. “Canada and Alberta will be equal partners in this project.”

The Alberta government’s submission to the federal government’s Major Projects Office said the project would cost between $35.2 billion and $43.7 billion, including contingencies. Construction would start as early as 2027 and finish by 2034.

As for who foots the bill, Smith said detailed funding and the cost for taxpayers “remains to be negotiated.” 

She said the Alberta government is partnering with the federally owned Trans Mountain Corporation and Calgary-based Pembina Pipeline Corporation to build and run the project. The federal government and the Alberta government would be majority owners, while Pembina would have a 10 per cent stake through construction and an opportunity for up to an additional 10 per cent once the project is up and running.

Hours before speaking next to Smith, Carney stood by Eby to announce a new agreement with B.C. to satisfy several key issues in the pipeline discussion: a ban on tanker traffic off B.C.’s North Coast will stay in place, as Eby wanted, and the province was told it will be fairly compensated for a new pipeline. B.C. also gets federal funding for other resource initiatives and will concede the province cannot and will not challenge a federally-approved pipeline in court.

But Eby said he won’t be cheering it on, either.

“Don’t expect me or members of my government caucus to say we like this project,” he told CBC News.