Trans Mountain opens 'pretty vast market,' says Cenovus — but it's likely Canada's last pipeline

  • 📰 YahooFinanceCA
  • ⏱ Reading Time:
  • 24 sec. here
  • 4 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 63%

Trans Mountain News

Cenovus Energy Inc.,Chief Commercial Officer

'It is increasingly difficult to build pipelines in this country,' says CEO

extension that officially opened on Wednesday and is expected to provide oil producers access to better prices and newer markets.

The cost to build the new pipeline was initially estimated in 2017 to be around $7.4 billion. Since then, the cost has ballooned to about $34 billion, leading to some criticism from the industry. -Logistical constraints at the Port of Vancouver mean waterborne oil exports from the highly anticipated Trans Mountain pipeline expansion may only be around half what the Canadian government-owned corporation has forecast, traders and shipping sources said.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 47. in BUSİNESS

Business Business Latest News, Business Business Headlines