Canada’s $25 billion Trans Mountain pipeline comes online after 12 years of development
(UI) – Accord to Reuters, Canada's Trans Mountain (TMX) pipeline expansion project has commenced commercial operations after 12 years of development and C$34 billion ($25 billion). Opening the pipeline nearly triples crude flow from Alberta to the Pacific coast to 890,000 barrels per day (bpd).
This milestone is expected to alleviate pipeline constraints, boosting crude prices, GDP, and access to Asian markets. According to a press release, 70% of the expanded pipeline is already full by volume.
Despite facing regulatory delays and cost overruns, the Trans Mountain pipeline completion is seen as pivotal for Canada's oil industry.
The federal government plans to divest part of the TMX pipeline to Indigenous groups. The expansion is anticipated to reduce the discount on Canadian heavy crude, attracting interest from Asian buyers. The pipeline’s completion is welcomed by Alberta's premier, who anticipates significant economic benefits for the province.
This story was originally reported by Reuters.
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