April 5, 2010
TransCanada receives approval for Keystone pipeline
TransCanada Corp. has received regulatory approval from the National Energy Board (NEB) to construct and operate the Canadian portion of the Keystone Gulf Coast Expansion Project.
“Keystone will be the first pipeline to directly connect a growing and reliable supply of Canadian crude oil to the largest refining market in North America,” said Hal Kvisle, TransCanada president and CEO.
When completed, the expansion will increase the capacity of the US$12 billion Keystone Pipeline System to 1.1 million barrels per day.
The expansion is a 3,200-kilometre, 36-inch crude oil pipeline stretching from Hardisty, Alberta and moving southeast through Saskatchewan, Montana, South Dakota and Nebraska.
• TransCanada may give Montana, North Dakota access to Keystone pipeline
• North Dakota, Montana lobby for access to TransCanada Corp.’s Keystone pipeline
• TransCanada says construction on Keystone crude oil line to start next year
It will link up with a portion of the Keystone Pipeline that will be built through Kansas to Cushing, Oklahoma.
The pipeline will then continue on through Oklahoma to a delivery point in Nederland, Texas to serve the Port Arthur, Texas market.
A decision on U.S. applications for regulatory approvals are anticipated during the fourth quarter of 2010.
Construction is expected to begin in the first quarter of 2011 and deliveries of crude oil to the U.S. Gulf Coast should begin in the first quarter of 2013.
JOC News Service
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