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A worker stands on a concrete berm at the Trans Mountain Pipeline expansion project at the Burnaby Terminal tank farm in Burnaby, British Columbia, Canada, on Monday, March 27, 2023. Canadian taxpayers may end up taking a loss of C$20 billion (nearly $15 billion) on the government-owned Trans Mountain Pipeline after costs to expand it skyrocketed, according to Morningstar Inc. Article content Some of the largest oil producers in Canada are objecting to potentially rising costs and fees to ship their crude on the expanded Trans Mountain pipeline, underscoring growing disappointment with the highly anticipated project. Article content BP Plc, Suncor Energy Inc., Canadian Natural Resources Ltd., Cenovus Energy Inc. and PetroChina have filed letters with the Canada Energy Regulator voicing concerns about how much of the project’s cost overruns they’ll have to pay for as well as how the pipeline plans to handle fees for late shipments. Trans Mountain will provide a reply to comments by Friday, the company said by email. Article content The Trans Mountain expansion — which will nearly triple the system’s capacity to 890,000 barrels a day — was supposed to provide a fast and relatively cheap way to sell Canadian crude into Asian […]
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