Canada Aims for Energy Dominance Amid Global Volatility
The summer of 2026 is being called 'pipeline summer' due to the numerous announcements for new pipelines or expansions, totaling over $7 billion in investments. In April, the federal government approved Enbridge Inc.'s $4-billion Sunrise natural gas pipeline project in British Columbia. By May, Prime Minister Mark Carney and Alberta Premier Danielle Smith announced a MOU Implementation Agreement for a West Coast Oil Pipeline, which chose a southern route with Roberts Bank proposed as the new terminal/port by July.
By August 4th, the project was designated 'in the national interest' under the Building Canada Act, allowing the federal government to fast-track approvals. Ontario Premier Doug Ford also announced the Northern Shield Energy Corridor in July, a pipeline carrying 500,000 barrels of Alberta crude to refineries in southwestern Ontario.
Erin Rolstad, VP Regulatory & Mainline Commercial Strategy at Enbridge, views pipelines as the solution to the Western Canadian Select (WCS) differential, which currently trades at a $16.00 discount to WTI, representing a 19.5% differential.