Canada’s Oil Pivot to Asia Is Starting to Materialize

AI Summary

Canada's Trans Mountain pipeline reached full capacity in June, with plans to expand capacity by an additional 300,000 barrels per day by 2028. This expansion supports Canada's oil export pivot toward Asia, involving increased tanker traffic from the Westridge Marine Terminal in British Columbia.

Canada’s Trans Mountain pipeline hit full capacity for the first time in June, and the company running it already has another 300,000 barrels per day of capacity planned. Most of those new barrels are expected to head across the Pacific. Trans Mountain currently moves 890,000 bpd from Alberta to British Columbia. The operator plans to add 90,000 bpd in the fourth quarter, followed by another 210,000 bpd by the end of 2028, taking total capacity to roughly 1.19 million bpd. About two-thirds of tankers leaving the Westridge Marine Terminal…