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Trans Mountain oil pipeline expansion costs surge 44% to C$30.9 billion

The cost of the Canadian government-owned Trans Mountain oil pipeline expansion has jumped 44% from last year's estimate to C$30.9 billion. Eleven oil shippers have committed to long-term contracts that make up 80% of the pipeline's capacity.

  • The cost of the Canadian government-owned Trans Mountain oil pipeline expansion has jumped 44% from last year's estimate to C$30.9 billion.
  • The 590,000 barrel-per-day pipeline expansion will nearly triple the flow of barrels from Alberta's oil sands to Canada's Pacific coast, opening access to Asian markets.
  • Prime Minister Justin Trudeau's government bought the pipeline from Kinder Morgan Inc in 2018 to ensure the expansion got built, drawing sharp criticism from environmental groups.
  • Finance Minister Chrystia Freeland reiterated government plans to sell the pipeline once it is complete.
  • Eleven oil shippers, including Canadian Natural Resources Ltd and MEG Energy, have committed to long-term contracts that make up 80% of Trans Mountain's capacity.
Trans Mountain oil pipeline expansion costs surge 44% to C$30.9 billion
The cost of the Canadian government-owned Trans Mountain oil pipeline expansion has jumped 44% from last year's estimate to C$30.9 billion ($22.35 billion), the federal corporation building the project said on Friday.

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