Trans Mountain Pipeline, Global Fuel Subsidies: Your Daily Energy News

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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.

PIPELINES
Trans Mountain Seeks Last-Minute Route Deviation on Pipeline Expansion - The Trans Mountain Expansion (TMX) project has asked Canadian regulators for a route deviation on a 1.3-kilometre (0.8 mile) section of pipeline in British Columbia, months before the 600,000-barrel-per-day project is due to start shipping crude oil. TMX is expected to start operating in the first quarter of 2024. The regulator is weighing whether to allow Trans Mountain Corporation, the government-owned corporation building the project, to deviate from its previously approved route on a section of the pipeline just south of Kamloops in southern interior British Columbia. (Reuters)

GOVERNMENT
IMF: Global Fuel Subsidies Topped $7 Trillion in 2022 - Global subsidies for fossil fuels rose by $2 trillion over the past two years to reach a record $7 trillion in 2022, according to new estimates from the International Monetary Fund (IMF). "Subsidies for oil, coal and natural gas are costing the equivalent of 7.1% of global gross domestic product," the IMF said. "That's more than governments spend annually on education (4.3% of global income) and about two thirds of what they spend on healthcare (10.9%)." (Reuters)

NATURAL GAS
U.S. Sees Small Gas Storage Build - The U.S. Energy Information Administration (EIA) said utilities added just 18 billion cubic feet (Bcf) of gas into storage during the week ended August 18. That compares with an increase of 54 Bcf in the same week last year and a five-year (2018-2022) average increase of 49 Bcf. (Reuters)

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Energy asset information on power plants, oil refineries and natural gas infrastructure is now more important than ever. A unit of Industrial Info Resources, IIR Energy provides infrastructure information on these assets, as well as real-time tracking of planned and unplanned interruptions affecting the commodity-trading community. We are the number one source for information about power plant outages, refinery turnarounds and midstream natural gas disruptions.

About Industrial Info
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).