Logistical constraints at the Port of Vancouver mean waterborne oil exports from the long-awaited Trans Mountain Pipeline (TMX) expansion will be only about half of what the Canadian government has forecast, traders and shipping sources said.
After 12 years and 34 billion Canadian dollars ($25 billion), the project to nearly triple the flow of crude oil from landlocked Alberta to Canada’s Pacific coast to 890,000 barrels per day began commercial operations Wednesday after regulatory delays and setbacks in construction.
The additional 590,000 barrels per day of oil will be delivered to the Westridge Marine Terminal, where it can be loaded onto tankers, giving Canadian producers greater access to the U.S. West Coast and Asian markets.
