Trans Mountain pipeline tolling dispute could stretch into mid-2025: Cenovus [Video]

Cenovus Energy Inc. executives warn it could be well into next year before oil companies resolve their ongoing dispute with Trans Mountain Corp. over rising pipeline shipping fees.

The Calgary-based oil company is one of the largest contracted shippers on the freshly completed Trans Mountain pipeline expansion, which marked its official commercial start-up date Wednesday.

On a conference call to discuss its first-quarter earnings, Cenovus executives hailed the milestone, which has been long awaited by Canada’s energy sector.

The Trans Mountain expansion, which runs from Alberta to the B.C. coast, represents a near tripling of the pipeline’s capacity from 300,000 barrels per day to 890,000 barrels per day and will open up global export markets for Canadian oil.

“This is a really good day for Canada,” said Drew Zieglgansberger, Cenovus’ chief commercial officer on Wednesday.

But Zieglgansberger said oil companies continue to push back against Trans Mountain Corp.’s proposed tolls, the term for the fees the pipeline company …