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The long-awaited Keystone XL pipeline is finally moving ahead.

And in the latest major twist in its long journey, the Alberta government is set to take an equity stake and provide a loan guarantee to the project during a period of turmoil in global energy markets, with a total financial commitment of just over $7 billion.

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On Tuesday, the Alberta government will formally announce it’s going to acquire a stake in the cross-border oil pipeline, making a $1.5 billion CDN preferred equity investment into the development being built by TC Energy.

It will also provide a $6 billion loan guarantee beginning next year to ensure the Calgary-based pipeline giant is able to finance ongoing construction costs, according to Premier Jason Kenney.

“We are investing in the Keystone XL pipeline with TC Energy in order to begin construction immediately on April 1. Without this investment, we are certain that Keystone XL would not be built,” Kenney said in an interview.

“In part because of the chaos in global energy markets, private sector capital is not available to finance the project. We can’t wait any longer…It is an investment in our future when we so desperately need one right now.”