Trans Mountain pipeline construction costs balloon again — this time to $30.9B
Trans Mountain Corp. said it is now in the process of securing external financing to cover the remaining cost of the project.The 1,150-km Trans Mountain pipeline is Canada’s only pipeline system transporting oil from Alberta to the West Coast.
Its expansion will increase the pipeline’s capacity from 590,000 barrels per day to a total of 890,000 barrels per day, supporting Canadian crude oil production growth and ensuring access to global energy markets. However, even before the latest cost increase, some critics were suggesting the project no longer makes economic sense.For Trans Mountain Corp., a big reason why rising costs are so problematic is that it has no way to recoup them.Due to existing contractual agreements with shippers, only 20 per cent of the increased capital costs can be passed on to oil companies in the form of increased tolls. .
France Dernières Nouvelles, France Actualités
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