The federal government and British Columbia announced a multibillion-dollar agreement Thursday that aims to speed up development of several major projects in the province, while reaffirming a federal North Coast tanker ban.

Prime Minister Mark Carney and B.C. Premier David Eby jointly announced a Canada-British Columbia Co-operative Prosperity Agreement in Vancouver, just hours before the Alberta government and Mr. Carney are expected to release details about plans for a new pipeline to the West Coast.

The Prime Minister is scheduled to hold a news conference at 6 p.m. local time in Calgary with Alberta Premier Danielle Smith to “provide updates on proposed new energy infrastructure.”

Speaking in Vancouver, Mr. Carney said the billions in federal support for major projects in British Columbia are part of the government’s stated goal of doubling non-U.S. exports over the next decade.

He said Ottawa will provide $3.5-billion for phases one and two of the North Coast Transmission Line.

The project would twin existing transmission lines from Prince George to Terrace. The additional capacity would help power the Ksi Lisims LNG facility and critical-mineral developments in the region.