Estimated costs to complete the Coastal GasLink pipeline project have increased once again.
TC Energy, CGL’s parent company, is now forecasting an additional 30 percent increase to the project’s price tag, putting the revised estimate at $14.5 billion.
That increase reflects changes in material costs, labour shortages, the impacts of contractor disputes, and unforeseen setbacks such as weather conditions.
Should construction extend well into 2024, the company is expecting costs to rise by another $1.2 billion.
Last June, TC nearly doubled their cost estimate from $6.6 billion to $11.2 billion following a settlement with LNG Canada.
