Edmonton (Rajeev Sharma): Alberta Premier Danielle Smith confirmed on Monday, March 23, 2026, that the first set of deadlines in the high-profile energy and environment agreement with Prime Minister Mark Carney are not expected to be met. Speaking from the CERAWeek energy conference in Houston, Texas, Smith acknowledged that while several components are nearing completion, the April 1 target for a comprehensive deal remains out of reach. The memorandum of understanding, signed last November, was designed to fast-track a new oil pipeline to the British Columbia coast in exchange for Alberta’s alignment with federal climate goals.
The delays are primarily centered on two complex pillars of the agreement: the industrial carbon tax and the trilateral memorandum of understanding with the Pathways Alliance for a massive carbon capture project. Smith indicated that while a co-operation agreement on impact assessments is finished and a methane equivalency announcement is imminent, the broader negotiations with oilsands companies are proving more difficult. Despite the setbacks, the Premier expressed optimism that these critical pieces could be finalized “in the next few weeks,” emphasizing that neither government wants a prolonged delay that could undermine market certainty for the billion-dollar project.
Adding to the project’s momentum, Smith revealed that Middle Eastern sovereign wealth funds and Asian investors have expressed early-stage interest in taking a minority stake of 15 to 30 per cent in the potential pipeline. However, she reiterated that foreign capital will only flow once the federal government provides a clear, fast-tracked regulatory pathway and a stable carbon pricing framework. Alberta currently plans to submit its formal pipeline proposal to the federal Major Projects Office by June 1, 2026, which remains the next major milestone for the deal.
