The federal Crown corporation that owns the pipeline says the ballooning costs are due to a number of factors, including inflation and supply chain challenges, flooding in B.C. and unexpected major archeological discoveries along the route.
The 1,150 km Trans Mountain pipeline carries 300,000 barrels of oil per day, and is Canada's only pipeline system transporting oil from Alberta to the West Coast.
Its expansion will increase the pipeline's capacity from 590,000 barrels per day to a total of 890,000 barrels per day. Construction of the project is close to 80 per cent complete, with mechanical completion expected to occur at the end of this year, and the pipeline expected to be in-service in the first quarter of 2024.
Overall, the Trans Mountain pipeline has seen a 472 per cent increase in cost since its original estimate ten years ago in 2013, which was $5.4 billion.
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