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No Environmental Concerns Over TMX Delay: Regulator

OIL

The Canada Energy Regulator said on Wednesday it has no environmental or safety concerns with the latest construction issues that are delaying the Trans Mountain Pipeline completion.

  • "No safety or environmental concerns have been noted, and we will continue to monitor the situation," the regulator said in a statement.
  • The project has hit pipeline installation complications at a section called the Mountain 3 crossing.
  • Trans Mountain had expected to complete the final pipeline this week and start pipeline operations in April.
  • The project is expected to start shipping oil in the second quarter. Trans Mountain had a pipeline variance request granted on Jan 12 that was expected to bring forward the project completion, a move which strengthened Canadian crude prices.
  • The latest delay has added further pressure on prices again with uncertainty over when in Q2 the project will begin.
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