Canada’s Trans Mountain Expansion oil pipeline announced that it will begin commercial operations on May 1st, ahead of what analysts were expecting.
“The Commencement Date for commercial operation of the expanded system will be May 1, 2024. Trans Mountain anticipates providing service for all contracted volumes in the month of May,” said the company in a press release.
The company is scheduled to begin exporting crude oil on the expanded pipeline next month as it completes the project’s remaining construction and awaits the necessary approvals from the Canada Energy Regulator.
“After commencement of operation of the project, Trans Mountain will continue cleanup, reclamation, road and civil work,” added the release.
Oil sands company MEG Energy stated last month that the project has requisitioned 2.1 million barrels for April and the same amount for May.
The $30.9 billion project, owned by the Canadian government, aims to substantially increase the transport capacity of oil from Alberta through B.C. to the Pacific Coast, with targets of up to 890,000 barrels per day.
Shipments of oil will then be sent to the United States and Asian markets.
News of the project’s completion comes after years of undergoing delays and obstacles since it was first announced, including regulatory issues and strong opposition from environmental groups.
