Trans Mountain Expansion May Need External Funds for Completion
10.26.2023 By Tank Terminals - NEWS

October 26, 2023 [The Province]- Prime Minister Justin Trudeau’s government bought Trans Mountain in 2018 from Kinder Morgan Inc., which had threatened to scrap the expansion project amid fierce opposition in B.C.

 

The Canadian government-owned company expanding the country’s only oil pipeline to the Pacific Ocean may be unable to fund the rest of the project, the government’s auditor general said, just months before the project is scheduled to start operation.

The expansion would nearly triple the capacity of the 1950s-era line that runs from Alberta to Burnaby.

“If the corporation cannot finance the full remaining construction of the pipeline expansion, it will be unable to put the expanded pipeline into service to generate revenue,” the Office of the Auditor General said in a commentary. “The Trans Mountain Corporation’s year-end financial statements disclosed a significant uncertainty about the Crown corporation’s ability to continue operating.”

 

Pro Trial: Access 12,600 Tank Terminal and Production Facilities

12,600 tank storage and production facilities as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data

India's First Methanol Plant to be Set up in Telangana
11.21.2024 - NEWS
November 21, 2024 [Chem Analyst]- In a groundbreaking initiative, India is set to get its first m... Read More
Egypt in Talks with Foreign Companies Over Long-Term LNG Purchases, Sources Say
11.21.2024 - NEWS
November 21, 2024 [Reuters]- Egypt is in talks with U.S. and other foreign companies to purchase ... Read More
INEOS and GNFC Sign a Memorandum of Understanding to Build a New World Scale Acetic Acid Unit in India
11.21.2024 - NEWS
November 21, 2024 [INEOS]- INEOS Acetyls and Gujarat Narmada Valley Fertilizers & Chemicals L... Read More
Peru's State Oil Firm Could Open to Private Investors in 2025, Chairman says
11.21.2024 - NEWS
November 21, 2024 [Reuters]- Peru’s indebted state-run oil firm could consider offering a ... Read More