This week, our guest is Dawn Farrell, President and CEO of Trans Mountain Corporation. On May 1, 2024, the Trans Mountain Expansion Project (TMEP) started commercial operations. Over a decade in the making, this milestone is a huge accomplishment. Originally built in 1953, the expansion project triples the pipeline's capacity from 300,000 to 890,000 B/d.
This significant expansion of Canada's only oil pipeline to the West Coast comes at an important time since Canadian production was expected to hit the limits of the existing pipeline system later this year. The expansion will allow Canadian crude oil to access new markets in California and Asia, and it is expected to lift oil prices by increasing the number of buyers for Canadian oil.
The TMEP is not without controversy, given its high cost (currently estimated at $C 34 billion compared with $C 7.4 billion in 2017), opposition to the pipeline in some areas of British Columbia, and the Federal government's purchase of the project in 2018.
Here are some of the questions Peter and Jackie ask Dawn: Tell us about the pipeline operations currently, has Alberta crude oil reached the dock in Burnaby, British Columbia? What are the logistics, operations, and safety precautions for moving the Aframax tankers from the Burnaby Terminal to the open ocean? What is the importance of this pipeline to Canada? What are some of the factors that contributed to the high costs? What is the process and timing for the current regulatory hearing that could change the tolls?
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