NorthAmOil: Trans Mountain pipeline to provide higher prices for Canadian crude 'for years'

The newly opened Trans Mountain pipeline extension (TMX) will deliver higher prices for Canadian crude “for years” to come, said an executive for Meg Energy.

Alberta’s landlocked oilsands have lacked take-away capacity, and Canadian crude has traded below prices for West Texas Intermediate.

The Trans Mountain pipeline and TMX are the only pipelines from Alberta across the Rockies to the British Columbia coast. Exports to Asia and the US West Coast are expected to pick up.

The two pipelines are expected to deliver around 890,000 barrels per day (bpd) of oil.