Prime Minister Mark Carney says the Pacific Link oil pipeline to the West Coast will be the first project to receive a national special interest designation under the Building Canada Act.
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Prime Minister Mark Carney and Alberta Premier Danielle Smith announced Thursday in Fort McMurray, Alta., that the West Coast-bound oil pipeline known as Pacific Link would receive a national special interest designation under the Building Canada Act.
Carney said the designation is an important day for Alberta and for Canada.
The federal major projects office will work to finalize conditions for the project by Sept. 1, 2027, Carney said.
The estimated cost of the roughly 1,250-kilometre pipeline is between $35.2 billion and $43.7 billion.
Carney said the pipeline is to be split between Trans Mountain Corp., a federal Crown corporation, and the Alberta government.
Indigenous communities are to be offered a minimum 10 per cent ownership interest, financed through federal and province loan programs, according to Carney.
Pembina Pipeline Corporation is offering its expertise to project development as a private sector investor, the announcement said.
The pipeline is intended to carry upwards of one million barrels of crude oil per day from Bruderheim, Alta., to a port near Delta, B.C., for shipment to international markets.
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