Alberta Premier Alison Redford offered her congratulations to Barack Obama on Wednesday after the American president won his second term.

In a written statement Redford described the next four years as presenting Alberta with a tremendous challenge and opportunity.

In January 2012, the U.S. government denied TransCanada’s proposed route for the Keystone XL pipeline, citing concerns about potential risks to a sensitive aquifer in Nebraska.

Calgary-based TransCanada has since submitted a new route and is waiting for approval of that route.

Republican presidential candidate Mitt Romney had vowed to fast track the pipeline if he was elected.

"We will continue to promote the importance of Alberta’s resources as a critical component in helping to achieve North American energy independence and economic security," said Redford.

At the same time, the premier said Alberta will continue to respect U.S. processes and regulatory decision making.