A new oil pipeline stretching to the British Columbia coast is "highly likely" to be designated a project of national interest by the Canadian government, Prime Minister Mark Carney told the Calgary Herald in an interview published Sunday.

Carney, speaking Saturday while attending the annual Calgary Stampede, emphasized the significant economic opportunity presented by such a project. He highlighted Canada's abundant resources and expertise, suggesting a strong case for its inclusion on the prioritized list.

The prime minister clarified that any proposal for the pipeline would need to originate from the private sector, underscoring a preference for a "bottom-up" approach, rather than the government dictating specific projects.

In addition to the pipeline, Carney voiced support for a proposed C16.5billion (US12.14 billion) carbon capture system for Alberta's oil sands, suggesting it too could qualify for national interest status.

Carney's comments follow Alberta Premier Danielle Smith’s announcement last month that the province was preparing to present a proposal for an extensive pipeline terminating at the port of Prince Rupert to bolster the country's oil production and exports. 

These significant developments follow a recent passage of a Senate bill designed to expedite approvals for natural resource and infrastructure projects. 

The legislation aims to streamline the process for projects deemed of national importance, potentially including mines and oil pipelines, and seeks to reduce interprovincial trade barriers.

Canada, the world's fourth-largest oil exporter, is actively pursuing these energy initiatives as part of a broader strategy to lessen its economic reliance on the United States, which currently takes approximately 75% of Canada's exports.