01 August 2013 16:50 [Source: ICIS news]
TORONTO (ICIS)--TransCanada has decided to proceed with its 1.1m bbl/day pipeline project to ship oil from ?xml:namespace>
TransCanada said that a successful open season confirmed strong market support from oil producers and refiners for the project, with about 900,000 bbl/day of “firm, long-term contracts to transport crude oil from western
The pipeline would help lessen western
TransCanada CEO Russ Girling said that the project – known as Energy East Pipeline – would give refiners in eastern
However, Keystone XL and other pipeline projects are still needed, Girling added.
"Energy East is one solution for transporting crude oil, but the industry also requires additional pipelines such as Keystone XL to transport growing supplies of Canadian and
Energy East Pipeline will have a capacity of about 1.1m bbl/day. It is expected to be in service by late 2017 for deliveries in
The Canadian dollar (C$) 12bn ($11.7bn, €8.8m) project involves converting existing 3,000km (1,865 miles) of natural gas pipeline capacity to crude oil service, and constructing about 1,400km of new pipeline.
The pipeline will terminate at
Shipping crude oil via pipeline, rather than rail, gained in public support in
($1 = €0.75, $1 = C$1.03)
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