TD Economics says proposed West Coast pipeline would lift Canada’s crude export capacity by nearly 20%
Those timelines hinge on alignment with British Columbia, the resolution of legal and environmental challenges, and the completion of Indigenous consultations.
TD linked the pipeline’s political viability to progress on the Pathways carbon capture and storage project, a parallel oil sands emissions strategy backed by Canadian Natural Resources, Cenovus Energy, ConocoPhillips Canada, Imperial Oil and Suncor Energy, which together account for about 90 percent of Alberta’s production.
Pathways aims to capture at least 16m tonnes of carbon dioxide a year by 2045.
To support it, Ottawa and Alberta have extended federal CCUS tax credits, reset the industrial carbon price to reach $140 a tonne by 2040, and committed to carbon contracts for difference capped at $1.2bn split between the two governments.
