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Cost of Trans Mountain pipeline expansion climbs to $21.4 billion


CALGARY-

The projected cost of the Trans Mountain pipeline expansion has soared 70% to $21.4 billion, while its completion is delayed.

The state-owned company behind the massive project says the total cost has increased from its earlier estimate of $12.6 billion.

Trans Mountain Corp. partially attributes the cost increases to the COVID-19 pandemic and the effects of the November 2021 floods in British Columbia.

The company also says the project won’t be completed until the third quarter of 2023. It was originally expected to be completed this year.

The current Trans Mountain pipeline carries 300,000 barrels of oil per day and is the only pipeline system in Canada carrying oil from Alberta to the West Coast. It was purchased by the federal government for $4.5 billion in 2018. The expansion will take daily production to 890,000 barrels.

Trans Mountain Corp. also announced the retirement of its Chairman and Chief Executive Officer, Ian Anderson, effective April 1.


This report from The Canadian Press was first published on February 18, 2022.

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