Estimated cost of Coastal GasLink pipeline surges to $14.5-billion

Calgary-based TC Energy Corp.said on Wednesday that it has increased Coastal GasLink’s expected cost to $14.5-billion. That’s up nearly 30 per cent from the previous estimate last year of $11.2-billion and up 134 per cent from the original price in 2018 of $6.2-billion.

The 670-kilometre pipeline is designed to transport natural gas from northeast B.C. to LNG Canada’s $18-billion export terminal, which is under construction in Kitimat, B.C.Shares in TC Energy fell $3.22 to close at $54.11 apiece on Wednesday on the Toronto Stock Exchange. “We are disappointed with the increase in the Coastal GasLink project costs,” TC Energy chief executive officer François Poirier said in a news release. “We continue to be laser-focused on safely completing this critical piece of energy infrastructure at the lowest possible cost, which will enable Canada’s first direct path for LNG exports.”

Total costs will now be at least $48.3-billion for LNG Canada’s Phase 1, counting the $18-billion Kitimat terminal and various infrastructure that includes the revised estimate of $14.5-billion for the pipeline, as well as annual budgets for drilling in the North Montney region in northeast B.C. Mr. Williams-Derry forecasts that the Coastal GasLink project’s costs for transporting natural gas across British Columbia could end up being double the costs of shipping the fuel from northeast B.C. to the Gulf of Mexico.

Sounds like a waste of money, should probably cut the losses and stop building it

The 'private sector' always getting things done (for as much profit as possible). And Pierre thinks we need to remove the 'gate keepers' because the private sector is so trustworthy.

That’s the same amount 3 Illinois elementary schools would spend on CRT curriculum, right RepMTG ?

idk maybe we should not build this destructive superexpensive crap on someone else's land who didn't agree to it. Just a thought.

Government incompetence strikes again

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Coastal GasLink price tag climbs to $14.5 billion and could go even higherTC Energy\u0027s Coastal GasLink pipeline is expected to cost $14.5 billion and add $1.2 billion if construction is extended into 2024. Read on. Ummm, anybody has info about that defi bot everybody's talking about Shame on Canada, shame on the Liberals shame on the NDP. Here we have a cash fountain and they just do everything they can to shut it down.
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Coastal GasLink price tag climbs to $14.5 billion and could go even higherTC Energy\u0027s Coastal GasLink pipeline is expected to cost $14.5 billion and add $1.2 billion if construction is extended into 2024. Read on. Not 'could' but 'will'. Bet you dollars to doughnuts that the feds are about to post a $10 billion loan guarantee for them. Our government continues to defraud the public. Fire these corrupt politicians now! This was as predictable as the setting sun. Add another 5 billion to the cost and extend it to through 2025 will be the next update
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Coastal GasLink price tag climbs to $14.5 billion and could go even higherTC Energy\u0027s Coastal GasLink pipeline is expected to cost $14.5 billion and add $1.2 billion if construction is extended into 2024. Read on.
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TC Energy raises expected cost of Coastal GasLink project to $14.5 billion | Globalnews.caTC Energy says the new estimate excludes potential cost recoveries and incorporates contingencies for certain factors that may be beyond its control. YYC
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