Pipeline Financial Requirements Regulations — 2
Limits for classes of company 2 (1) The following amounts are prescribed for the purposes of paragraph 137(5)(b) of the Act: (a) $300,000,000, in respect of a company that operates one or more authorized oil pipelines that individually or in the aggregate have the capacity to transport at least 50,000, but fewer than 250,000, barrels of oil per day; (b) $200,000,000, in respect of a company that operates one or more authorized oil pipelines that individually or in the aggregate have the capacity to transport at least one, but fewer than 50,000, barrels of oil per day; (c) $200,000,000, in respect of a company that operates one or more authorized gas pipelines whose risk value is at least 1,000,000; (d) $50,000,000, in respect of a company that operates one or more authorized gas pipelines whose risk value is at least 100,000 but less than 1,000,000; (e) $50,000,000, in respect of a company that operates one or more authorized gas pipelines whose risk value is at least 15,000 but less than 100,000; (f) $10,000,000, in respect of a company that operates one or more authorized gas pipelines whose risk value is at least one but less than 15,000; (g) $10,000,000, in respect of a company that operates one or more authorized pipelines that transport a commodity — other than oil, gas, carbon dioxide or water — in a liquid state by land or in a liquid or semi-solid state across a watercourse; (h) $5,000,000, in respect of a company that operates one or more authorized pipelines that transport a commodity — other than oil, gas, carbon dioxide or water — in a gaseous or semi-solid state by land or in a gaseous state across a watercourse; (i) $5,000,000, in respect of a company that operates one or more authorized pipelines that transport carbon dioxide or water. Calculation of risk value (2) For the purposes of paragraphs (1)(c) to (f), the risk value is calculated by multiplying the square of the pipeline’s maximum outside diameter, measured in millimetres, by the maximum operating pressure, measured in megapascals, and, if the company operates two or more pipelines, the risk value is that of the pipeline with the highest risk value. Multiple commodities (3) If a company operates an authorized pipeline that transports two or more commodities, and the limits of liability in respect of those commodities are not the same, the limit of liability applicable to the company is determined in accordance with paragraph 137(5)(a) of the Act and subsection (1) as if the company were transporting only the commodity that results in the highest limit of liability. Multiple varieties — same commodity (4) If a company operates an authorized pipeline that transports two or more varieties of the same commodity, the limit of liability applicable to the company is determined in accordance with paragraph 137(5)(a) of the Act and subsection (1) as if the company were transporting only the variety that results in the highest limit of liability. Multiple unconnected pipelines — different commodities (5) If a company operates two or more authorized pipelines that are unconnected and transport different commodities, the limit of liability applicable to the company is determined in accordance with paragraph 137(5)(a) of the Act and subsections (1) to (4) as if the company were operating only the pipeline that results in the highest limit of liability. SOR/2021-134, s. 2