The Trans Mountain Expansion Project is accelerating. Work is underway with pipe in the ground and terminal construction in Alberta. Significant work has been ongoing at the Burnaby and Westridge Marine Terminals in British Columbia and it is hoped that construction will be underway across the entire line before the end of 2020.
“Today, we have more than 2,900 people working on the Project and that number will grow significantly in the months ahead. With 65 per cent of the detailed route approved and a process established by the Canada Energy Regulator for the remainder in progress, the path forward is clear. Construction is accelerating and we’re very excited to be delivering this important Project and on our commitments to Canadians, our customers and communities,” says Ian Anderson, president and CEO of Trans Mountain Corporation.
The Trans Mountain Corporation’s board of directors recently approved a Project cost estimate of $12.6 billion to bring it into service by the end of 2022. To date, the company has spent $2.5 billion in respect to the Project, which includes the impact of delays and the resulting additional regulatory process. It is anticipated that an additional $8.4 billion will be spent to complete the project, plus $1.7 billion of financial carrying costs.
If you are curious about context, once completed this pipeline will having a whopping 890,000 barrels-a-day capacity.
The Project is expected to drive significant economic benefits across Alberta, British Columbia and the country. At peak construction, approximately 5,500 workers will be employed in communities along the construction corridor in Alberta and British Columbia. Trans Mountain is prioritizing and maximizing Indigenous, local and regional hiring to the greatest extent possible, and assure Canadians that there will be benefits from the economic and tax contributions made by the Project once it is in operation. Communities along the construction corridor will benefit from significant tax dollars, anticipated to exceed $52 million annually, which will contribute to these local communities’ ability to meet their respective social, economic and development goals.
“Today’s Trans Mountain Expansion Project has seen significant changes, enhancements and improvements since it was originally envisioned in 2009, and first introduced to the public in 2012,” explains Anderson. “The Project has set new standards for Indigenous participation and inclusion – with 58 signed agreements worth over $500 million. The Project reflects the input and feedback from thousands of Canadians and incorporates the very best safety and environmental protections. “
He continues, “From the installation of state-of-the-art leak detection and monitoring technology, route adjustments to avoid sensitive areas, tunneling versus trenched crossings, to installing more valves and ground water monitoring stations, Canadians will be proud to know that Trans Mountain has established the very highest benchmark for the development and construction of a major energy infrastructure project.”
Trans Mountain has also made an agreement to pay the British Columbia government annually, for a total contribution over a 20-year period of up to $1 billion. These funds are to be used by the B.C. Clean Communities program to fund local, environmental projects everywhere in British Columbia. For more information visit transmountain.com