Ottawa Grants National-Interest Status to Proposed $44-Billion Oil Pipeline

Ottawa is poised to grant national-interest status to the proposed $44-billion oil pipeline from Alberta to the B.C. coast, according to reports.

The designation would place the export line on an accelerated regulatory track, allowing it to bypass some of the usual review processes.

The pipeline would carry up to one million barrels of crude a day, more than the 890,000 barrels currently moved by the expanded Trans Mountain pipeline. This would give Canadian heavy crude access to higher international prices and reduce reliance on the U.S. market.

Pembina Pipeline Corp. has signed a non-binding agreement for a 10 per cent stake in the project, with an option to double that once the pipeline is in commercial operation.