Trans Mountain ramps up oil flows to Asia as Iran war roils market

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomeEnergyOil & GasTrans Mountain ramps up oil flows to Asia as Iran war roils market'Everything that we do now is: can we go faster?'Author of the article:Rong Wei Neo and Yongchang ChinTrans Mountain Corp. CEO Mark Maki said there's very strong demand for heavy oil in China. Photo by Gavin Young /Postmedia fileTrans Mountain Corp., a pipeline operator owned by the Canadian government, is working at speed to boost the volumes it can ship from the west coast to Asia as the war in the Middle East roils flows.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountThe company is undergoing a major expansion as the conflict curbs supplies, while a trade fight with the United States has also pushed Ottawa to seek partners elsewhere, chief executive Mark Maki said in an interview.“It’ll be heavy oil that wants to move,” Maki said on the sidelines of the Asia Pacific Petroleum Conference in Singapore, referring to viscous, higher-sulfur Canadian crude that’s closer to Middle Eastern grades than varieties such as West Texas Intermediate. “There’s very strong demand for heavy oil in China.”Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againCanada’s trade relations have been disrupted by the dispute with its larger southern neighbour, increasing the long-run incentive for the country to deepen ties with more distant economies, including energy-hungry Asia. At the same time, crude importers in the region have been reassessing security of supply as the Iran war continues to disrupt shipments from the Persian Gulf.The plan is to increase the amount of oil that can be sent to the west coast to 1.2 million barrels a day by the end of 2028, followed by a further one million barrels a day between 2032 to 2034, Maki said. “I see China as a growth market, and in India, Korea and Thailand.”While the expansion plans have been under way for a long time, the latest geopolitical upheaval has brought some of those moves forward, Maki said. That includes an additional 10% increase to its current 890,000-barrel-a-day capacity, which will be completed by the end of this year, he said. It was originally scheduled to come online only next year.“Everything that we do now is: can we go faster?” Maki said. Geopolitical developments have improved the thesis behind the Trans Mountain project, “which was access to Asian markets. That’s the place to be,” he said.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.