CALGARY — The estimated cost of the Trans Mountain pipeline expansion project has increased once again, this time to $30.9 billion.
“Canada has among the world’s highest standards for the protection of people, the environment, and Indigenous participation when building major infrastructure projects,” said Trans Mountain Corp. CEO Dawn Farrell in a news release Friday.
The 1,150-km Trans Mountain pipeline is Canada’s only pipeline system transporting oil from Alberta to the West Coast. For Trans Mountain Corp., a big reason why rising costs are so problematic is that it has no way to recoup them. Due to existing contractual agreements with shippers, only 20 per cent of the increased capital costs can be passed on to oil companies in the form of increased tolls. .
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