Crude oil tankers SFL Sabine and Tarbet Spirit are seen docked at the Trans Mountain Westridge Marine Terminal, where crude oil from the expanded Trans Mountain Pipeline is loaded onto tankers, near a residential area in Burnaby, B.C., on June 10, 2024.DARRYL DYCK/The Canadian Press
Trans Mountain Corp. says it has reached a settlement agreement on tolls customers pay to use the Trans Mountain Pipeline.
The Crown corporation says it has filed a negotiated settlement with the Canada Energy Regulator that, if approved, would establish a long-term framework for tolls and services and more.
Trans Mountain says the settlement comes after 18 months of extensive engagement and negotiations with shippers.
Trans Mountain pipeline will run at full capacity in June, CEO says
CEO Mark Maki says the framework provides greater certainty and predictability for customers and stakeholders.
Trans Mountain says it has requested that the Canada Energy Regulator approve the settlement by Oct. 1 to support the implementation of the new framework by Jan. 1, 2027.
The Calgary-based company says the framework includes tolls for 15- and 20-year transportation service agreements, along with opportunities for firm shippers to extend contracts.