Alberta oilsands specialist Meg Energy Corp. reported that it has retained a 20,000 b/d oil shipping contract on the incomplete expansion of the Trans Mountain Pipeline.

Trans Mountain Pipeline

Management confirmed its plans for capacity on the Trans Mountain Expansion Project (TMX), whose estimated construction cost has ballooned 70%, while reporting fourth quarter and full-year 2021 earnings.

TMX would triple crude oil transport capacity on the existing Trans Mountain system to 890,000 b/d. The system carries oil from landlocked Alberta to the British Columbia coast.

According to Meg, the TMX deliveries would expand its marketing network for a bitumen grade called Access Western Blend (AWB). 

The Calgary-based company, which expects TMX deliveries to begin in late 2023, currently boasts 100,000...