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OIL: Trans Mountain Sees Tariff Threat Helping Pipeline Fill Faster: Bloomberg

OIL
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Trans Mountain Sees Tariff Threat Helping Pipeline Fill Faster: Bloomberg

  • Canada’s Trans Mountain oil pipeline, which moves oil from Alberta to export on the Pacific Coast to Asia, could fill to capacity as early as this year if US President Donald Trump follows through with threats to impose tariffs on the country’s crude, according to an executive for the government-owned project.
  • Trans Mountain was expected to reach capacity by 2028 as output in Alberta ramps up and spare space in other lines is used, but Trump’s tariffs could help it reach full volume sooner as producers seek to boost sales to non-US markets, said Jason Balasch, the company’s vice president of business development.
  • The expanded system began operation in May, but is running below its 890,000 b/d capacity because of expensive tolls for shippers without contracts.
  • “If tariffs come into effect, we think it’s possible to reach full capacity at the Trans Mountain pipeline system this year,” Balasch said in an interview on the sidelines of the Argus Crude Summit in Houston. “We are ready to handle the extra volume.”
  • Trump had planned to impose 10% tariffs on energy imports from Canada as well as 25% levies on all other products, but agreed to a 30-day pause. Canada exports nearly all its oil to or through the US, with Trans Mountain and its outlet on Canada’s Pacific Coast representing the sole option for selling to other markets. 
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Trans Mountain Sees Tariff Threat Helping Pipeline Fill Faster: Bloomberg

  • Canada’s Trans Mountain oil pipeline, which moves oil from Alberta to export on the Pacific Coast to Asia, could fill to capacity as early as this year if US President Donald Trump follows through with threats to impose tariffs on the country’s crude, according to an executive for the government-owned project.
  • Trans Mountain was expected to reach capacity by 2028 as output in Alberta ramps up and spare space in other lines is used, but Trump’s tariffs could help it reach full volume sooner as producers seek to boost sales to non-US markets, said Jason Balasch, the company’s vice president of business development.
  • The expanded system began operation in May, but is running below its 890,000 b/d capacity because of expensive tolls for shippers without contracts.
  • “If tariffs come into effect, we think it’s possible to reach full capacity at the Trans Mountain pipeline system this year,” Balasch said in an interview on the sidelines of the Argus Crude Summit in Houston. “We are ready to handle the extra volume.”
  • Trump had planned to impose 10% tariffs on energy imports from Canada as well as 25% levies on all other products, but agreed to a 30-day pause. Canada exports nearly all its oil to or through the US, with Trans Mountain and its outlet on Canada’s Pacific Coast representing the sole option for selling to other markets.