The Trans Mountain Expansion (TMX) project is expected to call on oil producers to start filling the pipeline as soon as this month, the president of major shipper Canadian Natural Resources Ltd said on Thursday.
Pipelines at Canadian Natural Resources Limited's Primrose Lake oil sands project are seen near Cold Lake, Alberta August 8, 2013.
Canadian Natural has committed to shipping 94,000 bpd on TMX, which is meant to start operating in the first quarter of 2024.of Alberta oil to Canada's Pacific Coast, adding to the 300,000 bpd of existing capacity. But the project has been dogged by years of regulatory delays and a quadrupling of its budget to C$30.9 billion, and was bought by the Canadian government in 2018 to ensure it got built.
Profits for oil and gas companies have declined from last year's bumper levels after crude prices eased from multi-year highs when Russia's invasion of Ukraine upended markets.
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