TSX:TRP - Post Discussion
Post by
TimeBuilder on Aug 26, 2023 12:40pm
FYI: Copy Market Chatter from TDWBDI
11:22 AM EDT, 08/24/2023 (MT Newswires) -- The C$30.9-billion Trans Mountain pipeline expansion project, owned by the Canadian government, may face even higher costs as the company looks to alter the route of a tunnel for the pipeline, Canadian Press reported.
The news service said the project has applied to the Canadian Energy Regulator to "slightly alter" the route of a 1.3-kilometer tunnel but faces opposition from an indigenous First Nation who agreed to the initial routing across their territory but have raised objections to the altered plan.
Trans Mountain is asking the regulator for a speedy decision to avoid even higher construction costs, the report noted.
The price tag for the 590,000 barrel per day expansion of the 300,000 bpd line that carries oil from the Edmonton, Alberta, area to the Port of Vancouver has ballooned to C$30.9 billion from its prior estimate of C$21.4 billion. The line is expected to be in service early next year.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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