Ex-Trans Mountain head sees pipeline potential when it comes to Chinese investment

Former Trans Mountain CEO and president Ian Anderson says there could be a role for China to play when it comes to investing in the promise of a new bitumen pipeline — at least, on some level. 

Anderson told CBC’s West of Centre podcast host Kathleen Petty that “all investor options should be on the table", including a Chinese backer, though he says it would most likely be a minority stake. 

“What the Chinese would bring is a trading partner. They would bring a commitment to moving barrels, supply commitments,” Anderson said. 

He said Chinese investment would spur confidence that there is a market for the product, and diversify the slate of investors to help reduce any one party's risk.

“I think Canada is always going to be careful about our relationship like that, and quite rightly so. But it's investor capital,” he said.

But former Alberta energy minister Sonya Savage told West of Centre she wasn’t as willing to endorse Chinese ownership at any level.

She says among other concerns, it could upset the trading relationship with the United States.

U.S. President Donald Trump recently threatened 100 per cent tariffs on Canada if a deal is made with China, but did not elaborate what kind of deal would qualify.

“We always are cautious right now about poking the bear,” Savage said, adding that selling off a substantial equity stake to China would “not only be poking the bear, [but] punching the bear in the head.”

She says there is a difference between China as a client for receiving Canadian oil, and as an equity owner, and worries about the national security risk if they become the latter.

The discussion of more Chinese ownership in Canada's oil sector came into the conversation in recent weeks, after Prime Minister Mark Carney visited Beijing and reached an agreement with China on increased cooperation on energy. 

In a statement to CBC News last month, Energy Minister Tim Hodgson’s office said the government will welcome foreign investment to support major projects and strengthen Canada's economy.

“However, any new investments must also support Canada’s national economic and security interests, and we have important and rigorous tools to ensure that, including the Investment Canada Act,” the statement reads. 

The Investment Canada Act, first legislated in 1985 and updated in 2022, reviews foreign investments to ensure Canada’s national security is not threatened, and that Canada’s economy is benefitted by the investment.