The west coast pipeline project took its next step forward, with Alberta’s new proposal heading to the MPO - which would transport one million barrels per day alongside the existing Trans Mountain route…

… to BC’s southwest coast, given the tanker ban remains in place. It’s not ideal, but a pipe is better than no pipe - providing much needed job creation through the decade and another avenue to reach international markets…

… China being the obvious one, given they receive over 30% of Trans Mountain exports today and are growing as an end market for Canadian crude.

With a graveyard of pipeline projects, the private sector isn’t jumping all over this - but Pembina (PPL) could take 10% with another 10% option on COD…

… which if exercised, would take its economic interest to roughly 5% of current handled volumes. With no at-risk capital until final investment decision…

… the company’s involvement is risk-free in the short term and could be material in the long term.

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