project to $14.5 billion, more than double its original estimate from 2018. Upon completion, the artery will feed the Shell-led LNG Canada plant on the British Columbia coast. More cost increases have not been ruled out.
For infrastructure players like TC Energy and Enbridge, the revenue side of the balance sheet is far more predictable than controlling costs and managing construction timelines. Each benefits from nearly all of their revenue flowing through cost-of-service or contract agreements largely shielded from inflation.on a new tolling plan for its Mainline pipeline. The system is Canada's largest oil conduit, moving western Canadian crude to markets in eastern Canada and the U.S. Midwest.
RBC Capital Markets analyst Robert Kwan believes Enbridge could build an even stronger moat against inflation under a cost-of-service scenario. However, he notes that would likely mean lower tolls overall. The massive Mainline system factored into a recent downgrade from Credit Suisse analyst Andrew Kuske. He raises the prospect of "fading returns" once the Trans Mountain Expansion Pipeline comes into service, adding more than half a million barrels per day of pipeline exit capacity from Canada's energy patch. The project is expected to begin operations in the final quarter of this year. Enbridge says its Mainline system currently moves 2.85 million barrels a day.
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