Trans Mountain gauging customer interest in expansion plans

A tanker sits in dock at the Trans Mountain Pipeline expansion Westridge Marine Terminal in Burnaby, B.C. Photo by Trans Mountain Corp.Article contentThe Trans Mountain pipeline, Canada’s only line transporting crude to the West Coast, said it will go ahead with plans to gauge customer interest in two expansion projects.Sign In or Create an AccountEmail AddressContinueor View more offersArticle contentThe federally owned pipeline is believed to be running nearly full, with a 96 per cent utilization rate on the system as of last November, according to the most recent data published by the Canada Energy Regulator.Article contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Article contentArticle contentTrans Mountain Corp. said space on the pipeline is in increasingly high demand and it is looking for shippers to secure contracts for 80 to 90 per cent of capacity through an open season, the industry term for a sign-up period where companies can reserve space on the pipeline to ship oil.Article contentTop StoriesGet the latest headlines, breaking news and columns.There was an error, please provide a valid email address.Sign UpBy signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Article contentThe company confirmed Wednesday that it is advancing plans for two expansion projects, including a plan to use chemical additives to reduce friction on the line that could increase flows by as much as 90,000 barrels per day by 2027.Article contentA second optimization project could follow, adding another 210,000 barrels per day by the end of 2028.Article contentAnd more projects could be coming over the next year, the company said.Article content“This open season for firm service reflects the strong commercial interest in the Trans Mountain Pipeline System and the confidence our customers have in its long-term value,” Trans Mountain chief executive Mark Maki said in a statement.Article content“We’re going to increase contracted capacity and at the same time, we’re advancing optimization projects that will add more than 30 per cent incremental capacity. Trans Mountain is delivering on its promises to Canada, supporting our customers’ evolving needs, and ensuring our system remains a critical piece of energy infrastructure the country.”Article contentFollowing the close of the open season on June 2, Trans Mountain said it will apply to regulators for approval of its expansion plans.Article contentIf approved, the expansions will take the pipeline’s capacity from the current 890,000 barrels per day, to 1.19 million barrels per day.Article content• Email: mpotkins@postmedia.comArticle contentTrending Posthaste: Many Canadians could be committing insurance fraud — and don't even know it News Why market bets for interest rate hikes in Canada are so high Economy Smith calls for new southbound pipelines, says U.S. could call 'first dibs' on Canadian oil exports Oil & Gas Wealthsimple receives regulatory approval to offer prediction markets to investors Fintech Posthaste: Canada's troubled housing market just got hit with another headwind News Share this article in your social network Get the latest from Meghan Potkins straight to your inbox Sign Up CommentsYou must be logged in to join the discussion or read more comments.Create an AccountSign in Join the Conversation Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information. Posthaste: Many Canadians could be committing insurance fraud — and don't even know it News Why market bets for interest rate hikes in Canada are so high Economy Smith calls for new southbound pipelines, says U.S. could call 'first dibs' on Canadian oil exports Oil & Gas Wealthsimple receives regulatory approval to offer prediction markets to investors Fintech Posthaste: Canada's troubled housing market just got hit with another headwind News