Workers lay pipe during construction of the Trans Mountain pipeline expansion on farmland, in Abbotsford, B.C., on Wednesday, May 3, 2023. The CEO of Pembina Pipeline Corp. says the company needs a resolution of uncertainties surrounding the Trans Mountain expansion project before deciding whether to make an offer for an equity stake in the pipeline. THE CANADIAN PRESS/Darryl Dyck
Ottawa bought the Trans Mountain pipeline, Canada's only pipeline system that transports oil from Alberta to the west coast, in 2018 to ensure a planned expansion would be completed after previous owner Kinder Morgan Canada Inc. threatened to scrap the project. Phase 2 will involve the consideration of commercial offers for the remaining stake in the pipeline, but Burrows said the timing of that is unclear.
“Pembina, like any other prudent commercial purchaser, requires the many outstanding issues related to the project to crystallize in order to prudently and appropriately assess the opportunity and determine next steps.” In addition, Trans Mountain is currently negotiating with oil companies the pipeline tolls - fees oil shippers pay to move oil on the pipeline. Those tolls are the way the pipeline earns revenue, and will have a direct impact on the amount a prospective buyer is willing to pay.
This week, the Canada Energy Regulator issued a temporary stop-work order on the project due to what it said was Trans Mountain's environmental non-compliance related to a wetland near Abbotsford, B.C.
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