MEGEF - Linefill on expanded Trans Mountain pipeline seen late in 2023 MEG Energy says

MEG Energy ( OTCPK:MEGEF ), which ships oil on Canada's Trans Mountain Expansion project, said Monday it expects the pipeline will start filling with oil late this year and be fully operational early in 2024 .

"We're being told linefill potentially at the end of 2023 and fully operational in the first quarter," MEG Energy ( OTCPK:MEGEF ) CEO Derek Evans told Reuters.

The company has secured 20K bbl/day on the C$21.4B pipeline from the Alberta oil sands to the Pacific Coast will raise capacity to 890K bbl/day from 300K bbl/day currently once the expansion is complete, which should provide a major boost for Canadian oil producers by opening up a significant export route to markets in Asia.

So far, the government-owned project has said only that it expects the expansion to be mechanically completed in Q3 2023.

MEG Energy ( OTCPK:MEGEF ) could enjoy strong returns from debt reduction and modest valuation expansion, Trapping Value writes in an analysis published on Seeking Alpha .

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