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Alberta plans to propose a general route for the pipeline by July 1
By Iain Boekhoff
Alberta’s Minister of Energy and Minerals Brian Jean is recognized in the House of Commons on Parliament Hill in Ottawa on April 29, 2026. Photo by Blair Gable/Postmedia
Alberta has held talks with a Fortune 500 company to finance a proposed oil pipeline capable of carrying 1 million barrels of oil a day to Canada’s west coast, the province’s energy minister said.
“We’ve had one particular discussion with a proponent, actually a Fortune 500 company, in very general terms about financing the entire project and building the entire project,” Brian Jean said Wednesday at the Global Energy Show Canada conference in Calgary.
The Alberta government plans to propose a general route for the pipeline by July 1 and it prefers a northwestern path rather than south toward Vancouver.
As part of a recent agreement with Alberta, Prime Minister Mark Carney pledged that by Oct. 1, the government would pursue designating the pipeline as “a project of national interest.” The goal is to allow construction to begin as soon as September next year.
On Tuesday, Cenovus Energy Ltd. chief executive Jon McKenzie said the regulatory regime makes the pipeline ‘unfinanceable’ for the private sector right now.
Jean said he would “agree with him to some degree” that there are significant policy barriers. But by working together with the federal and B.C. governments and Indigenous communities “and we make sure that we remove the things that need to be removed” then “we can get it done quickly.”
If the pipeline were to be built on a route that ends in northwestern British Columbia, Canada would need to change some existing rules. For example, oil tankers are currently banned along the northern B.C. coast.
“We have had a number of proponents come forward and asked to be participants within the pipeline and asked to be investors in the pipeline and want to have offtake on the pipeline,” Jean said.
Bloomberg.com
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