GAME CHANGER Trans Mountain pipeline expansion complete and starting to flow Canada’s oil to the world by Deborah Jaremko
Workers complete the “golden weld” of the Trans Mountain pipeline expansion on April 11, 2024 in the Fraser Valley between Hope and Chilliwack, B.C. The project saw mechanical completion on April 30, 2024. Photo courtesy Trans Mountain Corporation
It is a game changer for Canada that will have ripple effects around the world.
“WE’RE GOING TO BE MOVING INTO A MARKET WHERE BUYERS ARE GOING TO BE COMPETING TO BUY CANADIAN OIL,”
The Trans Mountain pipeline expansion is now complete. And for the first time, global customers can access large volumes of Canadian oil, with the benefits flowing to Canada’s economy and Indigenous communities. “We’re going to be moving into a market where buyers are going to be competing to buy Cana- dian oil,” BMO Capital Markets director Randy Ollenberger said recently, adding this is expected to result in a better price for Canadian oil relative to oth- er global benchmarks. The long-awaited expansion nearly triples capaci- ty on the Trans Mountain system from Edmonton to the West Coast to approximately 890,000 barrels per day. Customers for the first shipments include refiners in China, California and India, according to media reports. Shippers include all six mem bers
26 SPOTLIGHT MAGAZINE ON BUSINESS MAGAZINE • VOL 24 ISSUE 3
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