CALGARY — Suncor Energy Inc. is saying it's renting and operating several Aframax oil tanker ships to transport crude from the recently finished Trans Mountain pipeline expansion to Pacific markets.
The company mentions that by leasing and operating the tankers itself, Suncor can save on shipping costs.
Dave Oldreive, Suncor’s executive vice-president in charge of refining, sales and marketing, states that the company anticipates the crude oil loaded off the Trans Mountain pipeline onto tanker ships at the Westridge Marine Terminal in Burnaby will be mainly sent to California and Asian markets.
He mentions that Suncor’s trading offices in Calgary, Houston and London, England have been trying to strengthen relationships with customers along the West Coast and in Asia to take advantage of the opening of the Trans Mountain project.
Oldreive made the comments Wednesday during a conference call with analysts to talk about Suncor’s financial results for the first quarter.
The expansion of the Trans Mountain pipeline, which extends from Alberta to the B.C. coast and celebrated its official opening last week, provides Canadian oil shippers with an extra 590,000 barrels-per-day of pipeline capacity.
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