The Prime Minister, Mark Carney, announced on Monday that the federal government will reveal the upcoming set of significant projects for expedited approvals later this week. The aim is to boost economic activity amidst the ongoing trade tensions with the United States. Carney stated that the unveiling will take place in Prince Rupert, British Columbia, on Thursday. One of the projects already approved by the government is the Indigenous-led Ksi Lisims liquefied natural gas (LNG) project near the same city, which has obtained all necessary permits for construction.
In September, the government greenlit five other projects to undergo a streamlined approval process, including a major LNG expansion in British Columbia, a small modular reactor project in Ontario, expanded port facilities in Montreal, and new copper mines in the Western region. Carney confirmed that Thursday’s announcement will not be the final batch of projects, emphasizing that the Major Projects Office will continually update its list to accelerate economic growth by reducing bureaucratic hurdles and exempting certain projects from regulatory constraints.
Carney’s recently unveiled budget allocates around $214 million over the next five years, with an additional $10 million dedicated to Indigenous consultation efforts to support the approvals work of the new office. The government’s economic strategy heavily relies on expeditiously executing energy and resource-related projects to broaden Canada’s market reach beyond the protectionist U.S. trade policies. Carney highlighted the urgency to bolster the economy in response to the unprecedented U.S. trade dynamics, stressing the need for swift action to secure Canada’s economic future.
Apart from the approved projects, potential contenders for fast-tracked approval include the Toronto-Quebec City high-speed rail project, expanded port facilities in Churchill, Manitoba, nationwide critical minerals development, and a carbon capture and storage initiative in Alberta to reduce emissions in the oil sands. Addressing the demand for a new oil pipeline to the Pacific Coast, Carney hinted at progress in that regard, without divulging specifics, during an address to the Canadian Club in Toronto. Meanwhile, Conservative Leader Pierre Poilievre criticized Carney’s budget and expressed doubts about the government’s commitment to expedite project approvals, particularly in the context of building new oil pipelines.