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

UAE Invests Billions in AI to Diversify Economy Beyond Oil
11.13.2024 - NEWS
November 13, 2024 [Oil Price]- The United Arab Emirates’ state-owned energy giant Abu Dhabi Nat... Read More
Gulf Energy Transition: Assessing Saudi and Emirati Goals
11.13.2024 - NEWS
November 13, 2024 [The Washington Institute]- On October 29, during Saudi Arabia’s annual Futur... Read More
How will The Energy Sector Fare Under Donald Trump?
11.13.2024 - NEWS
November 13, 2024 [Investing Daily]- The energy sector experienced a notable boost following Dona... Read More
PNOC, Pertamina Partner on LNG Infrastructure, Supply Chain
11.13.2024 - NEWS
November 13, 2024 [Manila Bulletin]- State-run Philippine National Oil Company (PNOC) has signed ... Read More