Nancy Southern, CEO of ATCO Ltd., expressed strong optimism about the potential opportunities arising from the Alberta-Canada energy memorandum of understanding (MOU) and an expected industrial carbon pricing agreement. Speaking after ATCO's annual meeting in Calgary on Wednesday, Southern emphasized the critical importance of the energy accord for Alberta's economic future.
Energy Accord and Carbon Pricing
The Alberta-Canada energy MOU includes provisions for Alberta to propose a large greenfield oil pipeline to the British Columbia coast, which would receive expedited federal approval. This proposal is mutually dependent on the development of the Pathways carbon capture network in the oilsands. An expected carbon pricing agreement, reported by the Herald on Monday, would see both sides agree to an effective carbon price of $130 per tonne in Alberta by 2040.
Southern stated, "I think it's a critical time, and I believe that they're going to come to us with a very good agreement." She noted a significant shift in the federal government's desire to develop more natural gas, which she views as beneficial for Alberta.
Economic Opportunities
Southern sees real opportunities to build major projects in Canada and for Alberta to thrive as the country becomes a growing energy superpower. The world is increasingly looking for more secure sources of energy supplies, and Alberta has the resources needed. "I am so bullish on the possibilities for Alberta right now," she said.
ATCO has extensive energy operations, including natural gas and electricity transmission and distribution, and provides support services to commercial, defence, and government customers worldwide. The company also invests in ports globally, giving it deep insight into multiple industries.
Potential Risks
Despite the optimism, Southern acknowledged potential risks from the ongoing debate over separation and the possibility of a vote on the contentious issue. These forces have become dominant themes in 2026 for segments of Alberta business, as a volatile and unpredictable year heads into the summer months.
The National Post reported Wednesday that the province and Ottawa are looking at a fall date for when the federal cabinet will designate an oil pipeline to the West Coast as being in the national interest. This moment demonstrates that Alberta has the resources the world needs, according to Southern.
