Alberta Premier Reports Middle Eastern and Asian Interest in New Canadian Oil Pipeline Project

Alberta seeks to attract foreign investment in a proposed crude oil pipeline to increase exports to Asia. Premier Danielle Smith highlighted interest from Middle Eastern and Asian investors at the CERAWeek conference, noting a potential minority stake in the project. Canada plans to submit a pipeline proposal for federal fast-tracking in June. Regulatory certainty and carbon pricing negotiations are critical for project approval. Canada aims to diversify oil sales away from the U.S., which currently purchases 90% of its oil.

Published Mar 24, 2026

Alberta is exploring a new one-million-barrel-per-day crude oil pipeline to British Columbia's northwest coast to enhance exports to Asia, attracting interest from Middle Eastern and Asian investors. Premier Danielle Smith indicated that foreign capital could materialize if Canada fast-tracks the pipeline proposal, which is set for submission in June.

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The Alberta government aims to navigate political and regulatory hurdles that have plagued past projects and ensure a clear approval process. The success of the pipeline also depends on ongoing discussions about carbon pricing between Alberta and the federal government, with a deadline for agreement set for April 1. Canada seeks to diversify its oil sales away from the U.S., which currently buys 90% of its oil.