Key Takeaways from the Energy Business Forum at CEEA '75

Key Takeaways

• Alberta Premier Danielle Smith and Nova Scotia Premier Tim Houston on interprovincial cooperation and Canada's value proposition as an energy producer.
• Regulatory certainty, the Major Projects Office and approval timelines for projects.
• AI, data centres and the conversion of natural gas into electricity—and intelligence.
• Domestic development: refining, petrochemicals and building close to end users.
• The strategic window for Canadian energy infrastructure.
• Indigenous and landowner engagement.

Canada's energy sector is at an inflection point. Years of regulatory uncertainty, interprovincial friction and global market upheaval have given way to a renewed possibility that is tempered by the recognition that windows of opportunity do not stay open forever. That was the central message at the Energy Business Forum during the 75th Canadian Energy Executive Association (CEEA) conference in Banff, Alberta, where industry executives, government leaders and Indigenous partners gathered to chart a practical course forward.

Two Premiers, One Message: Canada is Open for Energy Business

The headline session paired Alberta Premier Danielle Smith with Nova Scotia Premier Tim Houston and covered interprovincial perspectives on Canada's energy potential. Premier Smith returned to the CEEA stage with an expanded pitch: Alberta is not only producing energy at record levels, but is also actively courting new investment in value-added processing, petrochemicals and data-centre infrastructure. She highlighted that refinery economics cannot depend on C$100 oil. The better strategy is to build value-added facilities close to the people who will use the finished downstream products, and to create a regulatory and royalty environment that makes those investments pencil out.

Premier Houston offered a complementary narrative. Nova Scotia holds vast onshore gas resources and has lifted its long-standing ban on hydraulic fracturing. The province uses significant volumes of natural gas and has approved 20 wind farms. The province's story "can, should and will be part of the energy story."

Interprovincial cooperation was a recurring theme, such as potential collaboration between Alberta and the eastern corridor, including Ontario, and the access that Trans Mountain now provides to Asian markets. Canada has an established royalty framework, deep technical knowledge, regulatory experience and energy security to offer the world. Sharing that expertise across provinces could change the national conversation. Nova Scotia can access the European market and provinces should not wait for the federal government to lead on energy development.

Expanding Investment Confidence Through Regulatory Certainty

Another theme across panels was the gap between Canada's resource potential and the pace at which capital is being deployed. Panelists acknowledged that the previous decade of policy signals has damaged investor confidence and that the task now is to get back to filling pipeline capacity and brokering renewed confidence.

Alberta has set a 120-day approval target for projects exceeding C$150 million and is reviewing its greenfield royalty framework to encourage new investment. The province is also exploring how to act as an aggregator of pipeline capacity that can then be sub-allocated to smaller producers who might otherwise lack access. The establishment of a federal-level Major Projects Office was cited as a positive development, provided it does not add another layer of bureaucracy.

Value-Added Development and Domestic Refining

Several sessions explored what it means to move beyond exporting raw commodities. Premier Smith drew attention to petrochemical investment, including the Dow Project. She also addressed the emerging concept of AI data centres as a different form of value-added conversion in the form of natural gas into electricity, and electricity into intelligence. Data centres in the Sturgeon area in Alberta represent a "different kind of refinery." Premier Smith suggested that the advantage of exporting data and intelligence is that it can move now without waiting for pipeline capacity.

The discussion also addressed the barriers to moving Canadian oil to the Irving refinery on the East Coast, where cabotage rules require Canadian-flagged tankers, which are in short supply. Panelists agreed that the federal government can help by removing regulatory barriers rather than directing outcomes. Building long-term value close to home remains the preferred strategy, but the US market also provides significant immediate demand. Since 2014, Canada has been selling more oil to the US than Saudi Arabia does.

AI, Data Centres and the Demand for Reliable Power

A dedicated panel explored the intersection of artificial intelligence, data-centre investment and Alberta’s power system. Panelists included Brendan McCracken, President and CEO of Ovintiv, Kirsten Trunzo, VP of ATCO Energy Systems, Jordan Heavenor, VP of Capital Power and Chief Billy Morin of Enoch Cree Nation. This panel reflected the range of stakeholders involved. The consensus was that the opportunity is real but demands urgency. The US is moving quickly on data-centre approvals and Canada risks falling behind if timelines remain too long.

Alberta’s advantages were again highlighted this year, including abundant natural gas, a cooler climate that reduces cooling costs, available land and distance from residential neighbourhoods. Jordan Heavenor of Capital Power stressed that speed must be balanced with reliability, and the Alberta Electric System Operator has an obligation to maintain grid stability. It was noted that Alberta has extensive AI applications already in its regulatory queue and that over-planning should not become a bottleneck.

North American alignment on AI infrastructure may be more achievable than in other energy sectors. If this opportunity is to be captured, capacity constraints require immediate investment in people and training.

Geopolitical Realignment and the Window for Canadian Infrastructure

Geopolitical strategist Peter Zeihan addressed the shifting global order. His remarks touched on China’s constrained information environment, the decline of US manufacturing capacity, the implications of global oil trade for Canada, advances in weapons technology, deglobalization and the trend toward localized supply chains. The message was that the global architecture that enabled decades of free trade is fraying, and that nations with natural resource advantages and stable governance, such as Canada, are well-positioned if they act decisively.

The US–Canada trade relationship featured in multiple discussions. Energy trade remains critical to the countries' bilateral relationship. Projects such as Keystone XL 2.0 and Northern Gateway (now discussed as “Northern Shield”) have re-entered the conversation in ways that would have seemed improbable a decade ago.

Indigenous and Landowner Engagement

Early and sustained engagement with Indigenous communities and landowners was discussed as both a regulatory requirement and a practical precondition for project success. Chief Billy Morin of Enoch Cree Nation emphasized the importance of building genuine one-to-one relationships. He noted that Indigenous communities are not opposed to resource development; they just want to be involved. Officials who have existing relationships with Indigenous partners have a competitive advantage. Those relationships must be demonstrated through real commitments to community participation.

The discussion also addressed local resistance and the importance of open, honest, two-way communication through town halls and direct outreach. Engagement with Indigenous communities, utility commissions and landowners should begin long before a regulatory application is filed. Speakers recommended resource risk-sharing models and other approaches that incentivize parties to participate in development and ensure that the economic benefits of projects flow to affected communities.

What This Means for Your Business

Companies evaluating energy projects may need to account for changes in regulatory processes and approval timelines when sequencing development, financing, procurement and construction. Alberta's 120-day approval target for projects exceeding C$150 million and the federal Major Projects Office are developments that may affect planning, although their practical impact will depend on implementation and project-specific requirements.

Interprovincial cooperation and expanded transportation capacity may create additional routes to customers and opportunities for value-added development. Companies may wish to assess how provincial coordination, pipeline capacity, export capacity, and access to eastern, western, US, European and Asian markets affect project design and commercial assumptions.

Workforce availability, infrastructure needs and early engagement with Indigenous communities and landowners remain material considerations for new investments. Planning for training, grid or pipeline access, community participation and two-way engagement before a regulatory application is filed may help identify execution issues and timing constraints.

Looking Ahead

If CEEA ’74’s theme was about the “Wild Frontier,” CEEA ’75’s theme of “Full Throttle” was about the Canadian energy industry driving into the “more open laneway” in order to convert opportunities into executed projects, investment commitments, and interprovincial partnerships. The mood in Banff was optimistic but commercially grounded. Speakers repeatedly emphasized that the current alignment of political will, market demand and geopolitical necessity is not guaranteed to last. The message to the industry was clear: move now and quickly, build durably and bring every stakeholder to the table early.

Bennett Jones Energy Group

Bennett Jones is Canada's premier energy law firm, with the largest dedicated energy group in the country, active in all sectors of the industry. We welcome a discussion about how the themes highlighted at CEEA '75, including regulatory and approval timelines, market access, value-added development and Indigenous and landowner engagement, may affect your business and how to plan for them. Please contact any of the authors above or the Bennett Jones Engery group to continue the conversation.