Alberta Courts Asian Capital for 1M bpd Pipeline to Break U.S. Dependence

Asian and Middle Eastern capital is lining up behind Alberta’s latest export push. Premier Danielle Smith says investors, including sovereign wealth funds, are prepared to take 15% to 30% minority stakes in a proposed 1-million-barrel-per-day pipeline aimed at Asian markets. The plan centers on moving oil sands crude to the northwest coast of British Columbia, with Prince Rupert now favored over Kitimat as the terminal site. The objective is straightforward: break Canada’s near-total dependence on the U.S., which still absorbs roughly…