MONTREAL, Canada, July 3, 2026 (BSS/AFP) - Canadian Prime Minister Mark Carney secured an investment agreement with British Columbia on Thursday to build a major oil pipeline, overcoming initial opposition from the westernmost province.

The future pipeline is expected to carry one million barrels of oil a day -- from the oil-rich province of Alberta, across the entirety of British Columbia, to the country's west coast -- allowing Canada new access to Asian markets and reducing its economic dependence on the United States.

At a press conference with Carney on Thursday, Danielle Smith, the premier of the conservative-leaning province of Alberta, announced the formal submission of the project to federal authorities, more than seven months after signing a memorandum of understanding.

"It's time to move to action," Carney said, specifying that a consultation process would "begin immediately" with Indigenous communities who have voiced opposition to the project.

British Columbia's Premier David Eby said the investment agreement, worth several billion Canadian dollars, secured environmental safeguards and would see construction of new LNG facilities and port infrastructure in the province.

"We will not be going to court to fight a pipeline project," Eby said, adding that residents would be "fairly compensated for the environmental risks" of the project.

British Columbia leadership had until recently voiced opposition to the project over concerns on environmental impact and risks to Indigenous communities.

Carney had previously said the pipeline would help Canada realize its goal of becoming an "energy superpower," dismissing impacts on national climate goals laid out by predecessor Justin Trudeau.

"The changes we have made will mean that our emissions will be higher in the next few years than they were projected to be under the previous government's plan," Carney said Tuesday.

"But in my judgment, that plan was not sustainable over the long term," he added.

Opening up to more global markets is part of Canada's strategy to cope with the trade war waged by US President Donald Trump.

Since taking office for his second term, Trump has imposed varying tariffs via executive order on energy products and goods from Canada and other countries.