Builders of Canada's Trans Mountain Pipeline expansion are making significant progress towards completing the project within the first half of the year. Despite encountering some challenges with the original path, the project remains on track, with preparations underway to resume work on the final leg of the oil pipeline.
Preparations for New Pullback
Trans Mountain Corp. announced that they have successfully removed a section of pipe from the originally planned path and are currently engaged in preparatory work for the new pullback. Tasks such as coating and welding of pipes are being carried out to ensure the smooth progress of the project.
Anticipated In-Service Date
The company remains focused on achieving an anticipated in-service date in the second quarter of 2024, reaffirming their commitment to meeting the project timelines.
Capacity Boost and Access to Overseas Markets
The expansion of the Trans Mountain Pipeline will significantly increase its capacity from 300,000 b/d to 890,000 b/d, providing crucial access to Pacific Coast terminals for overseas exports of Canadian oil. This development is expected to enhance the ability to ship crude to West Coast refineries and customers in Asia, consequently improving the price of Canadian crude in the market.
Completion Status and Future Plans
Trans Mountain has reported that the expansion project is nearing completion, with approximately 98% of the work finished. Despite encountering a delay in line fill operations scheduled for April, the government-owned company is determined to overcome any obstacles and successfully finalize the project.
Reporting by Steve Cronin
Editing by Michael Kelly
Novavax Stock Decline
Unraveling Nvidia's Narrative
Related Articles
Cryptocurrency Market Update
All major cryptocurrencies saw a decline on Friday, with Solana, Polkadot, and Cardano experiencing significant drops. Ethereum posted the smallest drop.
Arm Holdings: A Rising Star in the AI Market
Arm Holdings is a rising star in the AI market, poised for further success beyond smartphones. Ownership and trading volume considerations also impact its futur...
Villeroy & Boch Reports Lower Revenue and Earnings
German ceramics manufacturer Villeroy & Boch reports a decline in revenue and earnings, revises forecast for 2023, and maintains investment plans.