Canadian producers are eagerly awaiting the increased export capacity that will open up access to markets in Asia and the U.S. West Coast and help support heavy oil prices
But last month Tran Mountain Corp , the crown corporation building the expansion, asked the Canada Energy Regulator toon a 1.3-kilometre section of pipeline near Kamloops, British Columbia, to avoid planned micro-tunneling construction that it now says is unfeasible.
Earlier this year, TMC estimated the entire expansion project would cost $30.9-billion, more than four times its original budget, and warned the price tag could rise further. “It truly is a nightmare come true for the Canadian government,” said Morningstar analyst Stephen Ellis. “The response of the SSN First Nation seems quite compelling and detailed, and lays out Trans Mountain’s shortfalls in a very clear fashion.”
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