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While over the years the pipeline's start date has been moved further back, supply has kept coming. Light synthetic crude from the oil sands, another key Canadian grade, is trading close to its deepest discount since 2020. With Canada exporting around 3.8 million bpd via pipelines, each additional dollar the discount widens amounts to millions in lost revenues for oil companies, analysts say. Conventional oil and gas producers will drill 8% more wells in 2024 to take advantage of greater access to pipelines including Trans Mountain. Rail exports hit 145,000 bpd in September, nearly doubling from May, according to latest data from the Canada Energy Regulator.

Persons: TMX, linefill, WCS, Martin King, It's, Heather Exner, Kevin Birn, Enbridge, James Davis ,, Jesse Jones, Jones, We're, John Zahary, Kent MacDougall, Nia Williams, Stephanie Kelly, Marguerita Choy, Denny Thomas, Simon Webb Organizations: Producers, Canadian, Canada, RBN Energy, Business Council of Canada, U.S ., P, ., Inc, Rail, Canada Energy Regulator, TMX, Altex Energy, Thomson Locations: Asia, British Columbia, Alberta, Canada, U.S . Canada

☆ Trans Mountain faces regulatory hearing on pipeline variance request
▼ + stars: | 2023-11-24 | by ( Nia Williams | ) www.reuters.com time to read: +2 min

The expansion of the Canadian government-owned Trans Mountain oil pipeline advanced to a new construction stage, in Acheson, Alberta, Canada December 3, 2019. REUTERS/Candace Elliott/File Photo Acquire Licensing RightsNov 24 (Reuters) - The Canada Energy Regulator (CER) has ordered the company building the Trans Mountain oil pipeline expansion (TMX) to appear at an oral hearing on Monday, as the regulator weighs whether to approve a variance request from the project. Trans Mountain had asked the regulator to make a decision on the variance request by Nov. 30 to "advance the timely completion" of the expansion project. In September, the CER approved a route deviation request from TMX for a section of pipeline near Kamloops, despite opposition from local Indigenous groups. The CER said no other parties had expressed concern about TMX's latest variance request.

Persons: Candace Elliott, TMX, Nia Williams, Mark Porter, Leslie Adler Organizations: Canadian, REUTERS, Canada Energy Regulator, Trans Mountain Corp, Thomson Locations: Acheson , Alberta, Canada, Hope, Chilliwack, British Columbia, Calgary, Alberta, Coast, Abbotsford, TMX, Kamloops

OTTAWA, Nov 2 (Reuters) - The Canada Energy Regulator (CER) on Thursday ordered the Trans Mountain oil pipeline expansion project to stop work in a wetland area near Abbotsford, British Columbia, after inspectors found several environmental and safety-related non-compliances. Trans Mountain Corp, the Canadian government-owned corporation building the expansion project, said the order applies to a specific work area of about 800 metres. Work on the oil pipeline expansion project is more than 95% complete, Trans Mountain said. Prime Minister Justin Trudeau's Liberal government bought the pipeline in 2018 to ensure the expansion project went ahead. In 2021, Trans Mountain was ordered to stop work for four months to protect hummingbird nests along a one-kilometer section of its route.

Persons: Justin Trudeau's, Ismail Shakil, Nia Williams, Leslie Adler, Diane Craft, Aurora Ellis Organizations: OTTAWA, Canada Energy Regulator, Canadian, Trans Mountain Corp, U.S ., Justin Trudeau's Liberal, Thomson Locations: Abbotsford, British Columbia, Alberta, Coast, Asia, U.S . West Coast, Trans

OTTAWA, Oct 12 (Reuters) - The Canada Energy Regulator (CER) said on Thursday it will make a preliminary decision on Trans Mountain Corp's proposed shipping tolls for its oil pipeline expansion project this autumn, before holding a hearing on the tolls next year. The timing of the decision aims to ensure interim tolls are in place when the pipeline expansion becomes operational, the regulator said in a statement. The 590,000 barrel-per-day Trans Mountain expansion project (TMEP) will nearly triple the flow of oil from the province of Alberta to Canada's Pacific Coast and is expected to start operating late in the first quarter of 2024. But shippers including Canadian Natural Resources (CNQ.TO) and Cenovus Energy (CVE.TO) are disputing the interim tolls proposed by Trans Mountain, arguing a portion of the base toll is too high. "After service begins on the TMEP and final costs are known, Trans Mountain can request approval from the Commission of the CER for final tolls," the regulator said.

Persons: CER, Nia Williams, Ismail Shakil, Leslie Adler, Bill Berkrot Organizations: OTTAWA, Canada Energy Regulator, Natural Resources, Cenovus Energy, Canadian, Thomson Locations: Alberta, Coast, Trans

☆ Canada's Trans Mountain seeks last-minute route deviation on pipeline expansion
▼ + stars: | 2023-08-23 | by ( ) www.reuters.com time to read: +2 min

OTTAWA, Aug 23 (Reuters) - The Trans Mountain Expansion (TMX) project has asked Canadian regulators for a route deviation on a 1.3-kilometre (0.8 mile)section of pipeline in British Columbia, months before the 600,000 barrel per day project is due to start shipping crude. In the application TMC said it had encountered "significant technical challenges" micro-tunnelling through hard rock formations and requested to instead adjust the pipeline route and use a conventional open trench. Last week the regulator gave TMC until end of day on Wednesday to provide more information on its request. Now that it is nearing completion, the government has approached Indigenous groups looking at buying a stake in the pipeline. "We are confident that the business case for the Trans Mountain pipeline remains solid," he added, when asked whether the government would have to sell the pipeline for less than it cost to build it.

Persons: Justin Trudeau, We're, Trudeau, Prince Edward Island, Ismail Shakil, Steve Scherer, Nia Williams, Bill Berkrot, Sonali Paul Organizations: OTTAWA, Canada Energy Regulator, Canadian, Trans Mountain Corp, TMC, Thomson Locations: British Columbia, Kamloops, Columbia, Burnaby , British Columbia, United States, Charlottetown, Prince, Ottawa

May 4 (Reuters) - Canada's Enbridge Inc (ENB.TO) said on Thursday it has reached a 7-1/2-year toll agreement with oil shippers for its Mainline crude pipeline system, one of North America's biggest, after scrapping earlier plans for long-term contracts. The agreement means that, if approved, Enbridge would continue to ration space on a monthly basis. Enbridge spent years trying to convince shippers and then the Canada Energy Regulator (CER) to sell space on the Mainline under long-term contracts. Some Canadian oil producers objected, while companies with refineries were in favor of contracts. The new agreement covers 70% of Mainline deliveries, with the remaining 30% covered by a pre-existing agreement.

☆ Factbox: Highlights from Canada government's fall economic statement
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: +2 min

OTTAWA, Nov 3 (Reuters) - Below are some of the key proposals and takeaways from the annual fall economic statement unveiled by Canada's Finance Minister Chrystia Freeland on Thursday. LOWER CREDIT CARD TRANSACTION FEES FOR SMALL BUSINESSTo lower credit card transaction fees for small businesses by negotiating with payment card networks, financial institutions, payment processors, and businesses. To introduce legislation in 2023 to regulate credit card transaction fees if an agreement is not reached with the industry. SUPPORT FOR LOW-EARNERSTo provide C$4 billion over six years starting 2022-23 tolow-income earners by way of advance payment. SUPPORT FOR HURRICANE FIONA-IMPACTED PROVINCESTo set aside C$1 billion in 2022-23 to help provinces hit by Hurricane Fiona under the Disaster Financial Assistance Arrangements.

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