Alberta and Ottawa Greenlight 1M bpd Pacific Pipeline After C$150bn Pledges

On July 3, Alberta and Ottawa formally approved a new west-coast pipeline led by Trans Mountain Corp. and Pembina Pipeline to export up to 1 million barrels per day of Alberta crude to Asia. The decision follows Ottawa’s July 2 move to uphold the B.C. North Coast tanker ban, which removed one export route but did not halt the project. Prime Minister Mark Carney framed the initiative as a C$200bn-plus catalyst to diversify trade away from the U.S., with construction eyed for September 2027. The pipeline will terminate in southwestern B.C. and complements Trans Mountain’s planned expansion to 1.2 million bpd by 2029, though it still faces regulatory review, Indigenous consultation, and financing hurdles.