Western Canada is projected to increase its crude oil sands production by nearly 1 million barrels a day by 2020, putting increased pressure on an already constrained pipeline system, and forcing more oil to be transported by rail unless new pipelines come online, the report contends.
The "British Columbians First" policy within the agreement commits B.C. Trans Mountain and its subcontractors to hire locally and contract with qualified and competitive businesses in B.C. as well as First Nations groups for building, operating and maintaining the pipeline.
“Our members have told us loud and clear that they support decreasing our dependence on foreign oil and adding billions of dollars back into our own economy to be invested where most needed – right here in Canada,” said Dick Daigle, chair of the Saint John Chamber in a release.
TransCanada has previously been granted the required primary federal and provincial approvals to construct NMML, subject to conditions that included the requirement for a positive final investment decision on the proposed Pacific Northwest LNG Project.
U.S. District Judge James Boasberg denied a request by the Standing Rock and Cheyenne River Sioux tribes to stop oil from flowing while the tribes appeal his decision last week allowing pipeline construction to finish.
The Calgary-based pipeline company says it will now seek regulatory approval from the National Energy Board for the new tolls with a targeted in-service date of Nov. 1.