A Quebec business organization is coming out in favour of the Energy East pipeline project.

Quebec could lose out on a big money-making opportunity if the TransCanada project is not approved, Yves-Thomas Dorval, president of the Quebec Employers Council, said on the Eyeopener Monday.

"There is economic benefits, for not only Quebec, because Quebec is part of the federal cooperation between provinces," he said.

"And it's good for Canada and if our neighbours in Alberta and Saskatchewan do well, I mean Quebec will do well also, and the reverse is also true."

Last week, Montreal Mayor Denis Coderre said he and his colleagues in the Montreal Metropolitan Community are against the pipeline over its possible environmental impacts.

The $15.7 billion-pipeline project would carry 1.1 million barrels of crude a day from Alberta through Quebec to an export terminal in Saint John, N.B.

Dorval says it's counter-productive to argue that Quebec somehow owes Alberta its support, having received billions of dollars in transfer payments over the years.

"This type of arguments will just create more anger and will just create less dialogue. It's not because it's not true. Effectively, Quebec province received from other provinces a large amount of money through payment equalization," he said.

"But if you look back in the history, the reverse was also true."

If the NEB gives approval, the company would like to start construction in 2018 and have the pipeline in service in 2020.