The new estimated cost is up from the previously pegged amount of $11.2-billion, as TC Energy faces a skilled labour crunch and adverse weather conditions
said on Wednesday it now estimates costs for completion of its troubled Coastal GasLink project to be $14.5-billion, as it faces skilled labour crunch and adverse weather conditions.The costs are now up 30 per cent from the project’s previously pegged completion cost of $11.2-billion, which was already raised by 70 per cent in July from the initial budget.
The long-delayed pipeline is expected to be integral to Canada’s contribution to the global liquefied natural gas market, which has seen demand surge as Europe and Asia seek alternatives to Russian energy imports. Coastal GasLink’s workers were also attacked by masked assailants in February last year, damaging equipment and construction trailers worth millions of dollars.
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