Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials HomeCommoditiesEnergyOil & GasNewsAlberta will provide oilsands producers with incentives to fill proposed West Coast pipelineFive major companies also agreed to build Pathways carbon capture and storage mega-projectLast updated 51 minutes ago You can save this article by registering for free here. Or sign-in if you have an account.Prime Minister Mark Carney and Alberta Premier Danielle Smith announced the submission the West Coast Pipeline Project at Trans Am Piping Products in Calgary on Thursday, July 2, 2026. The Alberta government says it will give “financial supports” to oilsands companies to encourage them to raise their production and fill a proposed pipeline that would carry a million barrels of oil per day to the Pacific Coast.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorThe revelation is part of a new set of disclosures released by the federal government on its deal with Alberta and oilsands companies to satisfy Ottawa’s climate goals while building a massive new export pipeline for oil.A backgrounder on the deal lays out broad terms on which five oilsands companies agree to build a carbon capture and storage mega-project. The Pathways project has long been a key condition for Prime Minister Mark Carney in order to get his blessing for a new oil pipeline.Breaking business news, incisive views, must-reads and market signals. Weekdays by 9 a.m.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Posthaste will soon be in your inbox.We encountered an issue signing you up. Please try againThe backgrounder document, released Monday, offers a window into some of the concessions each party has made in order to expand production and ship the oil to energy-hungry markets in Asia.The document says oilsands producers — Canada Natural Resources Ltd., Suncor Energy Inc., Cenovus Energy Inc., Imperial Oil Ltd. and ConocoPhilips Co. — have agreed to cut their emissions by six million tonnes per year by early 2035 through the Pathways project. They expect further reductions of 10 million tonnes per year a decade later.Among other measures, Ottawa has agreed to provide oilsands companies with financing to support operating costs for carbon capture projects.And Alberta said it will offer incentives to encourage more production.Energy investors have for years demanded that oil and gas companies stop building large, risky production projects and instead focus on paying down debt and returning excess funds to shareholders.But these marching orders from investors run counter to the Alberta government’s goals of doubling oil and gas production by 2035. A new pipeline to the British Columbia coast is part of those ambitions to build future revenue streams to help pay for government services.Premier Danielle Smith has publicly mused that she’s open to the idea of offering oilsands companies some incentives to invest in greenfield development. She has since put the commitment in writing.“Alberta has agreed to implement financial supports to enable the oil production growth needed to underpin new export capacity,” according to the backgrounder released Monday.More to come … Join the Conversation This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.