The deadline for the controversial Trans Mountain pipeline to secure $500 million in insurance cover is approaching at the end of this month, and climate activists have stepped up efforts against insurers in a bid to stop the project in its tracks.
The Trans Mountain pipeline expansion project was approved by the Canadian government, which has owned it since 2018, three years ago.
The expanded crude and refined oil pipeline is expected to grow government revenue by $46.7 billion during construction and in its first 20 years of expanded operations, the project has forecast. Described by Trans Mountain as a “twinning” of the existing 1150km pipeline that runs through Alberta and British Columbia, it is expected to nearly triple the pipeline’s nominal capacity to 890,000 barrels per day.
However, activists have argued that…
