Canada-owned Trans Mountain asks regulator to approve oil pi

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Canada-owned Trans Mountain asks regulator to approve oil pipeline tolls despite shipper complaints

[ https://www.reuters.com/business/canada ... 023-09-15/ ]

By Rod Nickel September 15, 2023 8:20 AM CST Updated 2 days ago

(PHOTO: A pipe yard servicing government-owned oil pipeline operator Trans Mountain is seen in Kamloops
A pipe yard servicing government-owned oil pipeline operator Trans Mountain is seen in Kamloops, British Columbia, Canada June 7, 2021. REUTERS/Jennifer Gauthier/File Photo Acquire Licensing Rights )

WINNIPEG, Manitoba, Sept 15 (Reuters) - Trans Mountain Corp [RIC:RIC:TMC.UL], the oil pipeline company owned by the Canadian government, asked a regulator on Thursday to approve the proposed tolls it wants to charge shippers, who have said they are too high.

In a filing to the Canada Energy Regulator (CER), Trans Mountain also said the interim toll proposal would result in the pipeline operator absorbing two-thirds of the construction cost increases for its long-delayed expansion project.

The expansion would nearly triple the flow of crude from Alberta to Canada's Pacific Coast in British Columbia to 890,000 barrels per day, and is due to start up early next year. Construction has been beset by delays and a nearly quadrupling of its costs to C$30.9 billion ($22.84 billion).

Trans Mountain wants to recoup some of those costs from shippers and set tolls based on a formula outlined in an earlier agreement. . . . .

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