Alberta Premier Danielle Smith and Prime Minister Mark Carney have signed a memorandum of understanding that puts in motion a plan for a new privately-funded oil pipeline through northern B.C. and addresses many of the federal environmental laws the province has taken issue with in recent years.

The two leaders announced the deal at a Thursday morning signing ceremony in Calgary.

The memorandum sets out how the two governments will work to build the new bitumen pipeline, which Ottawa describes as a project of national interest and will be capable of carrying one million barrels per day to Asian markets.

It also calls for similar collaboration on the construction of the Pathways Plus carbon capture and storage project in northern Alberta, which Carney has described as a necessary precond

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