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Trans Mountain Expansion Facing Possible Delay Due to Route Change

OIL

The controversial Trans Mountain oil pipeline expansion is facing the prospect of a costly delay due to a route change according to Bloomberg.

  • Trans Mountain is seeking a route change after running into engineering challenges while drilling a tunnel in British Columbia according to a filing with the Canada Energy Regulator from 10 Aug.
  • The change faces opposition from an indigenous group, and if isn’t approved, the pipeline’s start date will be pushed back and its cost will “significantly increase” beyond initial estimates said in the filing. The project’s cost has more than quadrupled to C$30.9 billion ($22.8 billion).
  • The oil pipeline which is set to triple pipeline capacity to the Pacific Coast is scheduled for mechanical completion at the end of 2023 and to be in-service in the Q1 2024.
  • The expansion aims to move as much as 890kbpd of land-locked Alberta oil for waterborne exports near Vancouver.
Energy BulletsCommoditiesCanada Bank of Canada Market News
Energy BulletsCommoditiesCanada Bank of Canada Market News

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