22:34:04 EDT Thu 02 May 2024
Enter Symbol
or Name
USA
CA



TC Energy Corp
Symbol TRP
Shares Issued 1,037,487,829
Close 2024-02-13 C$ 50.96
Market Cap C$ 52,870,379,766
Recent Sedar Documents

FP says Enbridge, rival hear excess capacity won't last

2024-02-14 08:40 ET - In the News

See In the News (C-ENB) Enbridge Inc

The Financial Post reports in its Wednesday, Feb. 14, edition that the Canadian oil industry is eagerly awaiting the start-up of the Trans Mountain pipeline expansion. The Post's Chris Varcoe writes that the pipeline is expected to begin commercial operations next quarter. Analysts and experts figure it will not be long before the pipeline begins to fill up. Then, the persistent issue of transportation capacity could rear its head, once again. S&P Global Commodity Insights vice-president Kevin Birn says, "The supply is coming, and in very short order Western Canada will probably be north of 90 per cent (pipeline) utilization rate again." He adds: "In the long term, we still see Western Canada putting a lot of pressure on its takeaway system. ... We see it filling up progressively over the next 18 to 24 months. By the end of 2025, the system is looking pretty full." On Friday, Enbridge reported that its Mainline pipeline system transported an average of 3.2 million barrels per day (bpd) during the fourth quarter, an all-time high. ATB Capital analyst Nate Heywood says: "We are short pipe right now. Once TMX comes on, we will likely be long (with excess) export capacity, probably until that 2026 time frame."

© 2024 Canjex Publishing Ltd. All rights reserved.