Ottawa is moving ahead with a liquefied natural gas pipeline that could provide Alberta’s oil and gas industry with some hope to turn around the plunging economy.

The LNG project will result in 19M tonnes of liquefied natural gas exported to lucrative markets in Asia every year.

The terminal will be built along the northern B.C. coast, with the export facility in Prince Rupert.

There are a lot of environmental concerns with the project, prompting 190 conditions on the pipeline that Pacific NorthWest must abide by.

Among the conditions is a “maximum cap on greenhouse gas emissions”.

B.C. Premier Christy Clark calls the project a benefit to ‘all Canadians’ because of the creation of thousands of jobs for families, working people and First Nations.

“British Columbia is proud to be the climate leader in North America,” she said. “We have the first, the highest and the most comprehensive carbon tax on pollution on the continent and we are very encouraged to have a federal partner.”

Alberta Premier Rachel Notley was also glad to hear about the news on Wednesday.

“We are encouraged that the federal government appears to be rolling up its sleeves to appear to be navigating a path to what we have always believed is an important component of sustainable economic growth while continuing to address environmental issues so we're encouraged that they are starting to do that work, we will see what happens with it, should the project go forward.”

Notley says that the low price of natural gas remains a hurdle in the pipeline’s path.

Once the price goes up, then it will be very beneficial to sell to countries like China, India and Japan that are all eager for clean alternatives to burning coal for energy.

Industry representatives, who are meeting in Calgary at the Hyatt this week, say the approval of any type of pipeline is good news, but they are interested in how the consultation process was done and all about the conditions set.

“I think its good news. I think the progress on any of these projects is extremely important. LNG is an important commodity. It means it’s passed some hurdles. I think that some of the commentary on the approval around consultation and communication with the various stakeholders that that’s complete and so on. The conditions are there. I think it’s poised for the business decision now,” said Chris Bloomer, president and CEO of the Canadian Energy Pipeline Association.

Bloomer says that just because this project has been approved, it doesn’t mean that the approval process for the remaining pipelines will go any faster.

“I don’t think it signifies anything more than the LNG project. There is still a lot of work to come. I think it gives some hints about how the government is going to view things. I think it’s positive.”

The 11th International Pipeline Conference, which runs until Friday at the Hyatt Hotel in Calgary, is very important especially given the current environment, Bloomer said.

“You can see what the industry is doing technically and progressing in terms of performance and safety. There is also the technical papers that are being exchanged demonstrate the amount of work that goes into improving and ensuring that pipelines work safely. And then there is the whole social aspect of it. We’re all struggling with communications and how to communicate our industry and we want to do it better.”

(With files from CTVNews.ca)