CALGARY — Canada's energy sector as well as the country's main oil-producing province celebrated Wednesday as the long-awaited $34-billion Trans Mountain pipeline expansion officially came online. Crown corporation Trans Mountain Corp.
CALGARY — Canada's energy sector as well as the country's main oil-producing province celebrated Wednesday as the long-awaited $34-billion Trans Mountain pipeline expansion officially came online.
“With our project management team and contractors, we were able to build 988 kilometres of new pipeline, 193 kilometres of reactivated pipeline, 12 new pump stations, 19 new storage tanks, and three new berths at Westridge Marine Terminal in Burnaby." Alberta premier Danielle Smith also hailed the milestone, saying in a news release that the expanded pipeline means"a new era of prosperity and economic growth.""For Alberta this is a game-changer. The world needs more reliably and sustainably sourced Alberta energy, not less."
But while the project's completion is being hailed by Canada's energy sector as a win, it did not come easily. Cenovus' McKenzie said Wednesday he didn't want to taint"a great day" with too much talk of the project's challenges. But he suggested the difficulties encountered by Trans Mountain are indicative of a broader problem.
The cost and challenges associated with building Trans Mountain also cast a shadow over its ultimate sale. The federal government has indicated it does not wish to be the long-term owner of the pipeline, but the expansion project's ballooning price tag means experts say the government will likely have to take a significant writedown if it is able to sell the asset.
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