Canada Approves New Export Pipelines to Boost Oil Shipments to Asian Markets

Prime Minister Mark Carney announced that the government‑owned Trans Mountain pipeline will be expanded with a new one‑million‑barrel‑per‑day line linking Alberta’s oil sands to a deep‑water port on the British Columbia coast. The route follows the existing line and will accommodate Very Large Crude Carriers, aiming to increase crude oil sales to Japan, South Korea, China and India. Construction costs are estimated at C$35‑44 billion, with projected GDP gains of over 0.6 % by the 2040s and a meaningful ownership stake for Indigenous communities. The project has received federal review and a non‑opposition stance from British Columbia, while the province’s oil‑tanker ban on the northern coast remains in place.

Separately, Kitsault Energy has unveiled a proposal for a dedicated energy‑and‑commodity export corridor that would connect Port Churchill in northern Manitoba to a new deep‑water terminal at Kitsault Port on British Columbia’s northwest coast. The corridor is designed to transport crude oil, LNG, NGL, uranium, critical minerals and agricultural products to Asian and European markets, potentially raising Canada’s crude‑oil export capacity from about 5‑5.5 million barrels per day to 10 million barrels per day. The plan promises billions of dollars in private investment, thousands of construction and skilled jobs, higher federal and provincial tax revenues, and long‑term partnerships with First Nations communities.