As details emerge about Alberta’s new pipeline agreement with Ottawa, analysts and capital market veterans are questioning whether Canada’s pipeline companies — and their investors — will have the appetite to risk another mega-project in British Columbia.

“These are very tough projects to get built and today, there’s no private proponent,” TD Cowen director and equity analyst Aaron MacNeil said. “There’s a great national conversation going on about the strategic importance of a West Coast pipeline , but nobody seems to be questioning what would make this project attractive to a proponent.”

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'Tremendously risky': Alberta's pipeline pact with Ottawa no

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