Cenovus chief Jon McKenzie said the proposed west coast line would carry 1 million barrels a day and needs new oil sands projects, not just expansions.
He told analysts on Wednesday that stricter Canadian climate policies would have to give way to support for greater oil production if the project is to proceed.
The comments highlight tension between Alberta's export ambitions and Canada's emissions policies, as producers weigh whether greenfield developments can be justified under current rules.
With conflicting data, is Canada's carbon tax a real barrier or a political scapegoat for the oil industry's future?
Can costly carbon capture projects solve the oil industry’s emissions problem, or do they just delay a necessary energy transition?