CALGARY, ALBERTA, CANADA - Prime Minister Mark Carney and Alberta Premier Danielle Smith signed a memorandum of understanding Thursday to grow Alberta's oil exports while also committing to making it a world leader in green energy technology.

Here are five takeaways from the memorandum of understanding:

Big-Ticket Infrastructure: Both sides agree to work on approving a bitumen pipeline of one million barrels or more per day from Alberta to Asian markets via a port on the B.C. coast. The line has to be privately financed and Indigenous co-owned. If the line gets approval, Ottawa is to adjust existing tanker ban rules on B.C.'s coast to allow for exports to Asia from a deepwater port.

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Carbon Capture Quid Pro Quo: Alongside the pipeline, both governments will work with the oil giants

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