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(Bloomberg) — Alberta and Ontario proposed a crude oil pipeline and energy corridor across Canada as a way of reducing the country’s dependence on the US.
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The 3,300-kilometer (2,051-mile) route, called the Northern Shield Energy Corridor, would connect the Alberta oil-storage hub of Hardisty with the central Canadian refining center of Sarnia, Ontario, the provinces said Monday. The proposed pipeline would carry about 500,000 barrels of oil a day for domestic use and export markets, and could expand to 800,000 barrels a day. Ontario will also explore creating its own strategic petroleum reserve.
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“By reducing Canadian reliance on oil imports, the Northern Shield pipeline could help stabilize oil prices across the country and strengthen national security,” Ontario and Alberta said in a release.
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The project proposed Monday is similar to the mothballed Energy East oil pipeline floated more than a decade ago but later scrapped. A new cross-Canada oil pipeline would allow Canadian producers to avoid moving crude through the US, as is done on Enbridge Inc.’s Line 5, which crosses the border on its route to Ontario and Quebec.
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Since US President Donald Trump launched a trade war with Canada last year, sending relations to their lowest point in decades, Canadian political leaders including Prime Minister Mark Carney have been looking to diversify exports to other countries and lessen reliance on US infrastructure. Last week, Carney and Alberta Premier Danielle Smith announced plans to build a new 1 million barrel a day pipeline to Canada’s Pacific coast to boost exports of crude oil to Asian markets.
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The Alberta-Ontario proposal doesn’t include cost estimates. It pledges to examine “commercial models,” the release said. A feasibility study is expected to be finished by the end of the year.
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