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.”

 

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