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TMX First Tanker Expected Mid-May, Shippers Remain Skeptical

OIL

The first tanker to load crude from the expanded Canadian Trans Mountain pipeline is expected to load at the Port of Vancouver in the second half of May according to the company but shippers remain concerned over timelines.

  • The expanded pipeline will begin transporting crude on May 1 with final line fill completed in early May, Trans Mountain Corp said in an email with Reuters.
  • Some shippers have raised concerns that the pipeline will not be fully in service by May 1, according to a letter to the Canada Energy Regulator on Tuesday.
  • Suncor Energy said reasonable questions remain over whether Trans Mountain will be able to deliver contracted crude volumes from May 1 given some sections of the pipeline are still awaiting leave to open from regulators.
  • "While it is possible that Trans Mountain might be able to complete the physical construction of Expansion facilities by May 1, 2024, there appears to be a real likelihood that those facilities will not be capable of providing Firm Service at that time," the letter said.
  • There are other concerns over the cost of tolls as well as the vapor pressure limit on the pipeline which energy companies say is too high and would hurt sales prices of the crude.
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