Prime Minister Mark Carney and Alberta Premier Danielle Smith have agreed to the broad framework of a deal that would advance a new oil pipeline to Canada’s west coast, according to a CBC report released Monday.

Sources told the broadcaster the two governments plan to unveil the agreement at a press conference in Calgary on Thursday. The arrangement would provide federal exemptions and political backing for a yet-to-be-named pipeline intended to move Alberta crude to British Columbia’s coast for export to Asian markets.

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Alberta and industry groups have long argued that federal rules discourage investment in new pipelines, citing restrictions on oil tankers operating off northern B.C.’s coast. The reported framework would allow limited carve-outs in exchange for strict

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