A pipe yard servicing government-owned oil pipeline operator Trans Mountain
The Trans Mountain fiasco
A recent decision by Canada’s energy regulator will see the pipeline’s expansion project avoid yet more additional costs, but it remains blighted by poor economics
Calgary-based Trans Mountain Corp. (TMC) received a rare bit of good news for its troubled Trans Mountain Expansion (TMX) oil pipeline project when the Canada Energy Regulator (CER) ruled in its favour on a re-routing dispute with a British Columbia First Nation in late September. Had the CER not agreed to a minor modification to TMX’s pipeline route in Indigenous territory, it would have added C$86m ($63m) in construction costs to its already bloated budget and pushed the in-service date back yet another nine months, to December 2024. Each month the in-service date is delayed leads to “roughly $200m in lost revenues and roughly $190m in carrying charges”, TMC said in its filing to the regul
Also in this section
23 January 2026
A strategic pivot away from Russian crude in recent weeks tees up the possibility of improved US-India trade relations
23 January 2026
The signing of a deal with a TotalEnergies-led consortium to explore for gas in a block adjoining Israel’s maritime area may breathe new life into the country’s gas ambitions
22 January 2026
As Saudi Arabia pushes mining as a new pillar of its economy, Saudi Aramco is positioning itself at the intersection of hydrocarbons, minerals and industrial policy
22 January 2026
New long-term deal is latest addition to country’s rapidly evolving supply portfolio as it eyes role as regional gas hub
