The head of Trans Mountain Corp. believes a new pipeline for landlocked crude to reach any Canadian coast can be built within the next ten years.

Mark Maki believes Canada can become a major oil and gas exporter despite global trade uncertainties, emphasizing the need for new infrastructure to access overseas markets.

"Realistically, it's not a bad long-term economic call on the part of the country to see enhanced access to tidewater," he told the Globe and Mail, calling for renewed optimism despite pushback from at least one former environment minister.

Canadian Culture Minister Steven Guilbeault believes Canada should maximize existing pipeline use before building more, noting TMX operates below half capacity. 

Despite new pipeline discussions, optimizing the existing Trans Mountain capacity is the priority, says Maki. The line reached a peak of 790,000 barrels daily in March but has further potential. 

Trans Mountain says it will pursue capacity-boosting projects, such as increasing power and using flow-enhancing additives, if there is commercial interest.

Prime Minister Mark Carney vowed to accelerate major energy projects, aiming to make Canada an "energy superpower." Maki believes this new tone from Ottawa suggests a pipeline system will be part of the energy discussion.

"We have to find a way to get infrastructure done here more effectively," he said. "Whether it's a power line, a gas pipeline, an LNG facility, a critical minerals processing facility — all of it will be incredibly expensive."

But critics question TMX's viability, even though Trans Mountain Corp remains confident in finding a buyer to recoup costs.

CEO Maki defended the $34 billion pipeline expansion before a parliamentary committee, stating it's performing well and has eliminated a discount on Canadian crude. He cited a $26.3 billion GDP contribution by 2030. 

However, long-term revenues are uncertain due to unresolved toll rates. Opposition MPs challenged Maki's positive assessment, questioning losses per barrel and the use of a subsidiary. 

The executive maintained that being disciplined sellers is crucial for recovering taxpayer capital, emphasizing no rush in the sale, which Finance Canada will oversee after Indigenous consultations. 

Analysts anticipate a loss, while Maki believes a fair return is achievable if the sale is handled strategically. The project's cost has ballooned from an initial $7.4 billion in 2013.

The Liberals quietly approved a $20 billion loan in late December through the Canada Account, overseen by Export Development Canada, to reduce interest costs and ensure TMX's financial viability, despite a prior promise of no further public funding. 

Critics argue this violates that promise. Total funding exceeds $50 billion, with unclear impact on the final sale price. The loan was approved just before the finance minister resigned. 

Completed last May 1st, TMX tripled its capacity by 590,000 barrels per day for crude oil transport from Alberta to the British Columbia coast, becoming Canada's first new coastal pipeline approved in over forty years.

Canada has the world's third-largest reserves of oil.

Carney has expressed an openness to new pipelines if consensus exists and hinted at changes to the production cap and the Impact Assessment Act, a shift from his campaign stance. 

The oil and gas sector opposes new pipelines under current regulations and seeks repeal of the cap and assessment law.

Meanwhile, Canadian perspectives on new pipelines, especially in the East, have significantly changed in the last six months due to the impact of U.S. tariffs.

Nearly three-quarters of Canadians support an East-West oil and liquefied natural gas pipeline, according to a recent Nanos Research poll.

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