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Globe and Mail reports that Alberta will support a new oil pipeline proposal.

The Globe and Mail reported Wednesday that the Alberta government was preparing to submit a request for a new pipeline from the British Columbia coast to Enbridge, South Bow and Trans Mountain. Three sources with knowledge of the matter were cited.

Report said that the plan was to draft a proposal along with an estimate and submit it to the new Major Projects Office of the federal government. However, a final route had not been determined.

The report cited a source familiar with the plans as saying that Enbridge, South Bow, and Trans Mountain would work with the Alberta Machine Intelligence Institute and the government to create models of potential routes.

The report stated that Alberta is only taking a small risk by filing the application. This is far less than what it spent on the Keystone XL project, which was abandoned in 2021. It also noted that the goal of the province's pipeline plan and route is to not own the pipeline, but rather to develop it before it can be handed over to private capital. The office of Premier Danielle Smith, Enbridge and South Bow, as well as Trans Mountain, did not respond immediately to a comment request. Could not verify the report immediately.

Mark Carney, the Prime Minister of Canada, told the Calgary Herald in July that a new oil pipeline along the coast of British Columbia is likely to make the list of projects considered to be of national significance by the Canadian government.

(source: Reuters)