TMX: Exports of heavy Canadian crude to Asia delayed?

The long waited TransMountain Expansion (TMX) pipeline looks to be delayed. TMX, along with other projects like Keystone XL to move heavy Canadian crude, has faced substantial local opposition and delays in the permitting process. The 590,000 b/d TMX pipeline would enable heavy Canadian oil producers to access growing refinery markets in Asia-Pacific. Canada does not currently have any appreciable access to Asia. This Insight explains the path forward in the pipeline approval process and the implications of a delay.