Canada Eyes Two New Oil Pipelines
IMF Downgrades Global Economic Growth Forecast To 3% Amid Iran War With over two decades of journalistic experience working in newspapers, trade publications and as a mining reporter, Andrew Topf is a seasoned writer specializing in… The governments of Canada and Alberta signed a Memorandum of Understanding (MOU) on a West Coast oil pipeline on Nov.
The landmark MOU declared the proposed oil pipeline to Asian markets as a potential project of national interest.
Prime Minister Mark Carney and Premier Danielle Smith signed a subsequent Implementation Agreement on May 15, 2026, which outlines specific timelines to push for construction approval as early as September 2027.
On July 2, the pairannouncedthe new pipeline from Alberta to British Columbia will be built as a private-public partnership.
Crucially, the line would take the “southern route”, following the corridor of the existing Trans Mountain pipeline, which is federally owned and runs from Edmonton to a terminal in Burnaby, BC, an eastern suburb of Vancouver.
The terminus isexpected to be Roberts Banknear Tsawwassen on the southwest BC coast.
The site already houses a coal port and container shipping facility.
According to aproject summary, the Roberts Bank Delivery Terminal would encompass about 260 hectares and would include two berths able to accommodate large ocean-going crude oil tankers.
Each ship can carry about two million barrels of oil.
By dodging the northern route, the 1,200-km pipeline avoids crossing through lands owned by First Nations, which have adamantly opposed any such project running through their territories.Related: Drone Strike Shuts Russia's Largest Refinery as Fuel Shortages Worsen (Indigenous groups effectively put the kibosh on the Enbridge Northern Gateway pipeline.
The Federal Court of Appeal overturned its approval in 2016, citing that the federal government failed to adequately consult with affected first nations.) Also, a federal tanker ban exists on the northern BC coast.
British Columbia Premier David Eby had refused to back a pipeline that would put the ban on oil tanker traffic in jeopardy.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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