Pacific Link Pipeline Designated Canada's First Project of National Interest
The federal government has designated the Pacific Link oil pipeline as Canada's first project of national interest. This move will allow the project to proceed through a single regulatory review process, which will take place over the next year and consult with stakeholders on the project's conditions.
The $44 billion pipeline is expected to transport one million barrels of Alberta oil daily to terminals on the British Columbia coast. Once complete, it is expected to be a $30 billion boost to Canada's GDP annually, with costs ranging between $35.2 and $43.7 billion.
Prime Minister Mark Carney announced the designation in Fort McMurray alongside Alberta Premier Danielle Smith. 'This region holds the fourth-largest largest oil reserve in the world,' Carney said.