Ottawa and Alberta have signed an MOU which will put the wheels in motion to have a pipeline built from Alberta to British Columbia to ship oil to Asia.

Prime Minister Mark Carney says the agreement will enable the energy sector to achieve net-zero emissions by 2050, unlock the full potential of Alberta’s energy resources, and create hundreds of thousands of new high-paying jobs.

The project would be financed by the private sector.

Premier Danielle Smith says it means Alberta would export some of the lowest carbon-intensity oil produced in the world.

The MOU, says Carney, outlines what Canada and Alberta can build – and how they can build.

Premier Smith says plenty of discussions are taking place regarding projects in addition to the pipeline.

She says TMX is talking about an extra 400,000 barrels per day that they want to optimize; I’ve been in touch with folks from the St. Lawrence Seaway group wondering if we can get oil to Thunder Bay and on tankers to Europe,” says Premier Smith.

“We have oil by rail projects being talked about going all the way to Nova Scotia and being exported out of Sydney.”