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TransCanada seeks binding commitments for project to pipe oil to Quebec, N.B.
CALGARY – TransCanada Corp. (TSX:TRP) has begun seeking firm commitments from parties interested in new capacity for piping oil from the West to the eastern provinces.
The Energy East Pipeline project will involve 3,000 kilometres of existing natural gas pipeline converted to carry crude and 1,400 kilometres of new pipeline.
The proposed system could stretch as far east as Saint John, N.B., where Irving Oil has a major refinery.
Supporters argue it would reduce Eastern Canada’s reliance on imported oil and provide new markets for western crude while critics warn of potential oil spills.
TransCanada says it’s seeking binding commitments for delivery points in Montreal, Quebec City and Saint John, N.B.
The Calgary-based company will hold a two-month “open season” for collecting the commitments starting on April 15 and ending June 17.
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