Canada has designated the proposed Pacific Link oil pipeline as a national interest project as the country seeks to reduce its heavy reliance on the US energy market.
Prime Minister Mark Carney said the pipeline would enable Canada to send an additional 1 million barrels of oil per day to Asian markets. He noted that around 90% of Alberta’s oil currently goes to the United States.
According to Carney, expanding access to Asian markets would give Canadian energy producers more customers, greater market flexibility and stronger long-term demand for their products.
The government also said Indigenous communities would be offered at least a 10% ownership stake in the pipeline. The project is expected to create opportunities for Indigenous businesses and workers through contracting and employment.
The Prime Minister’s Office estimates that Pacific Link could create approximately 140,000 jobs nationwide, contribute more than $20 billion to Canada’s annual GDP, and generate around $100 billion in government revenue by 2060.
The government said the additional revenue could support infrastructure development, housing and public services, including healthcare, dental care and childcare. The pipeline is also being presented as part of Canada’s wider strategy to double non-US exports over the next decade.
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