Alberta sets pipeline timeline to West Coast amid pending approvals

The Alberta government has set an ambitious timeline for the construction of a new oil pipeline to Canada’s West Coast, a schedule that analysts at CIBC World Markets have described as optimistic and reflective of a best-case scenario. The province aims to submit a proposal to the federal major projects office by July 1, secure a designation as a project of national interest by October 1, and begin construction as early as September 1, 2027. According to a provincial official, oil could begin flowing through the pipeline around 2033 or 2034.

The targets were announced on Friday, following the finalization of an agreement between Alberta and the federal government on one of the last outstanding elements of their energy accord signed late last year. That agreement outlines how the market price on carbon will gradually increase to $130 per tonne by 2040. The last remaining side agreement to be completed involves the province, Ottawa, and a consortium of industry players represented by the Oil Sands Alliance, concerning funding for the multibillion-dollar Pathways carbon capture project. Under the federal-provincial memorandum of understanding, the Pathways project is a...