TMX status "On December 14, 2023, Trans Mountain filed a new variance application for the same pipeline section. The CER is currently evaluating this application."
As we all know, the original request was denied, as CER later revealed due to lack of information about the smaller pipe materials and quality, in-line inspection, etc.
In its latest application TM asked for a response not later than January 8 and, as reported in the media, warned of a possible 2 years delay. I think, it's a matter of submitting a more detailed paperwork rather than a serious technical issue.
The importance of this pipeline for a company like SCR is that it will immediately see a significant increase in heavy oil selling prices. WCS, currently trading at -$20 should and will firm to a normal -$12 with the additional takeaway capacity and less dependence on a single customer.