Alberta and the federal government have signed a landmark energy agreement that could more than double oil exports to Asia, create thousands of jobs and reduce emissions.
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The deal officially designates an Indigenous co-owned Alberta bitumen pipeline to Asian markets as a project of national interest. The privately financed, more than one million barrel-per-day pipeline will move through a strategic deep-water port, with both governments promising to streamline approvals and construction.
The federal government has agreed not to implement the proposed oil and gas emissions cap and has suspended the federal Clean Electricity Regulations. The agreement also includes plans to develop thousands of megawatts of AI computing capacity, with a significant portion dedicated to sovereign computing for Canada and its allies.
“This is Alberta’s moment of opportunity to take the first steps toward being a global energy superpower and show the nation that resource development and sustainability can coexist,” said Premier Danielle Smith.
“There is much hard work ahead of us, but today is a new starting point for nation building as we increase our energy production for the benefit of millions and forge a new relationship between Alberta and the federal government.”
A centerpiece of the deal is the construction of the world’s largest carbon capture, utilization, and storage (CCUS) project, aimed at making Alberta bitumen among the lowest-emission heavy oil in the world. Both governments also plan to introduce long-term carbon pricing and sector-specific regulations for large Alberta emitters by April 2026, and a methane reduction target of 75 per cent by 2035.
Officials say the agreement will support Indigenous partners, work with British Columbia to share economic benefits, and provide greater regulatory certainty for investors.
The partnership is being described as a major step toward making Canada a global energy superpower, growing Alberta’s energy and AI sectors, strengthening national security, and reducing the environmental impact of oil, gas, and electricity production.
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