EIA Provided Update on Trans Mountain Pipeline Expansion
SEATTLE (Oil Monster): According to latest update provided by the U.S. Energy Information Administration (EIA), the Trans Mountain Pipeline expansion project is over 95% complete.
The project was initially expected to come online early this year. However, the owners of the project currently estimate a delay of around two years, especially after the recent refusal by CER to grant a variation request to Trans Mountain. It must be noted that the Canadian government had acquired the pipeline in 2018 from Kinder Morgan for a sum of CA $4.5 billion. The proposed pipeline expansion project is being run by the Trans Mountain Corporation (TMC).
The existing Trans Mountain Pipeline helps movement of waterborne crude oil from Edmonton in Alberta to Burnaby, a port near Vancouver on the coast of British Columbia for exports. The expansion project aims to boost the pipeline capacity from current levels of 590,000 b/d by additional 300,000 b/d.
Alberta has accounted for much of the growth in Canada’s crude oil production. The province’s share in the country’s total crude oil production stood at 82.7%, significantly higher from 76.1% in 2012. The country’s crude oil production has recorded steady surge over the past 13 years.
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