Ottawa bought the Trans Mountain pipeline for $4.5 billion in 2018
CALGARY — Trans Mountain Corp. says Dawn Farrell will become its new president and chief executive next week.
The pipeline operator says Farrell has more than 35 years of experience in the energy business, where she has held senior level positions.
She was most recently the president and CEO of TransAlta Corp. and helped the company transition away from coal-fired electrical generation.
Farrell’s appointment comes after Ian Anderson announced in February that he would retire from the position in April.
Farrell will be tasked with guiding the company as it oversees a pipeline expansion she called “one of Canada’s most important infrastructure projects.”
Farrell says the Trans Mountain expansion project is passing the 60 per cent completion mark and she is looking forward to leading the organization to the end of it while steering the next phase of the company’s future.
The federal government bought the Trans Mountain pipeline for $4.5 billion in 2018, with the cost to finish the expansion — set to increase the capacity of the pipeline from 300,000 to 890,000 barrels a day — then estimated around $7.4 billion.
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Since then, the project — running from Edmonton to the B.C. coast — has faced several hurdles, including legal pushback from Indigenous groups, protests that spurred multiple arrests and a skyrocketing price tag, estimated in February to be around $21.4 billion.
The company said at the time it expected to finish the expansion in the third quarter of 2023, nine months later than previously scheduled. The previous cost estimate, made in February 2020, was $12.6 billion.
With a file from Reuters
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