Trudeau picks up the pipeline dossier
The Canadian government is banking on its clout being sufficient to remove obstacles to a long-delayed oil export project
Faced with critical export constraints and a rising tide of oil sands crude, Canada's government has chosen an unusual and controversial step. It has decided to take over the troubled TransMountain pipeline to steer it through an increasingly complicated political and regulatory morass of its own making. In May, the cabinet opted to purchase the entire project from Kinder Morgan Canada for C$3.7bn ($2.8bn). With it come obligations to spend another C$8bn to triple capacity to a much-needed 900,000 barrels a day and potentially open new offshore markets in Asia. Overnight, Canadian taxpayers find themselves the proud owners of an ageing 1,150km (932-mile) mainline to the British Columbia coas
Also in this section
22 November 2024
The Energy Transition Advancement Index highlights how the Kingdom can ease its oil dependency and catch up with peers Norway and UAE
21 November 2024
E&P company is charting its own course through the transition, with a highly focused natural gas portfolio, early action on its own emissions and the development of a major carbon storage project
21 November 2024
Maintaining a competitive edge means the transformation must maximise oil resources as well as make strategic moves with critical minerals
20 November 2024
The oil behemoth recognises the need to broaden its energy mix to reduce both environmental and economic risks