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CALGARY — Alberta is courting foreign investment for a proposed major oil pipeline to the West Coast as the province looks to expand exports and reduce its reliance on the United States.
Government sources say interest is coming from Asian and Middle Eastern investors, including sovereign wealth funds, for a project that could carry up to one million barrels of oil per day to British Columbia’s northern coast.
The proposed pipeline would aim to open greater access to Asian markets, where demand for energy has been rising amid ongoing disruptions in the Middle East. Currently, the vast majority of Alberta’s crude exports flow to the United States, leaving Canada exposed to a single dominant market.
Industry observers say the global energy crisis has highlighted Canada’s potential as a stable supplier of oil, particularly as traditional shipping routes face uncertainty. Increased access to tidewater could allow Canadian producers to capture higher prices and diversify export options.
However, the project faces significant hurdles, including regulatory approvals and opposition along British Columbia’s northern coast, where federal tanker restrictions remain in place and some Indigenous leaders have raised concerns.
Analysts say expanding pipeline capacity could have broad economic benefits, including increased exports, stronger economic growth and job creation, but warn delays and infrastructure constraints may limit how quickly Canada can respond to shifting global demand.
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