CALGARY — The estimated cost of the Trans Mountain pipeline expansion project has increased once again, this time to $30.9 billion. That's the latest figure from Trans Mountain Corp., the federal Crown corporation that owns the pipeline.
CALGARY — The estimated cost of the Trans Mountain pipeline expansion project has increased once again, this time to $30.9 billion.
Previous cost increases were blamed on the COVID-19 pandemic, scheduling pressures related to permitting processes, and route changes to avoid culturally and environmentally sensitive areas, among other things. Trans Mountain Corp. said it is now in the process of securing external financing to cover the remaining cost of the project.
However, even before the latest cost increase, some critics were suggesting the project no longer makes economic sense. Trans Mountain was bought by the federal government for $4.5 billion in 2018, after previous owner Kinder Morgan Canada Inc. threatened to scrap the pipeline's planned expansion project in the face of environmentalist opposition.
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