Canada's Trans Mountain Corp will begin adding crude oil to its long-delayed pipeline expansion in February and expects it to start operating in the second quarter, an executive said on Wednesday.
Canada 's Trans Mountain Corp will begin adding crude oil to its long-delayed pipeline expansion in February and expects it to start operating in the second quarter, an executive said on Wednesday. The C$30.9-billion ($23.05 billion) expansion project will nearly triple the flow of crude from Alberta to Canada 's Pacific Coast to 890,000 barrels per day, but has been plagued by years of delays and cost overruns .
The start-up is expected in early April and will ramp up to full capacity by the end of the year, Jason Balasch, a senior director at Trans Mountain, said at the Argus Crude Summit in Houston. The main challenge remaining for the expansion project is the installation of a section of pipeline through a mountain in British Columbia, which the company expects to complete early next week. Canadian heavy oil prices strengthened on the news, one trader said, with the discount on Western Canada Select heavy blend crude for March delivery tightening 50 cents to $17.50 per barrel below U.S. benchmark future
Canada Trans Mountain Pipeline Expansion Crude Oil Alberta Pacific Coast Delays Cost Overruns Start-Up Capacity British Columbia Heavy Oil Prices
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