TransCanada Corporation has signed binding long-term shipping agreements to build, own and operate the proposed Heartland Pipeline connecting Edmonton to Hardisty Alberta, as well as a terminal facility.
TransCanada Corporation has signed binding long-term shipping agreements to build, own and operate the proposed Heartland Pipeline connecting Edmonton to Hardisty Alberta, as well as a terminal facility.
“With Alberta oil production projected to increase by almost three million barrels per day over the next 15 years, it is important to have the right infrastructure in place to move these resources safely and reliably to market at the right time,” said Alex Pourbaix, TransCanada’s president of energy and oil pipelines.
“These projects will help link Canadian crude oil resources in northern Alberta to markets in Eastern Canada and the United States.”
The proposed projects include the 200-kilometre pipeline connecting the Edmonton region to facilities in Hardisty, Alberta, as well as a terminal facility in the Heartland industrial area north of Edmonton.
TransCanada estimates the pipeline will transport up to 900,000 barrels of crude oil a day, while the terminal is expected to have storage capacity for up to 1.9 million barrels of crude.
The projects, which are being developed to support growing crude oil production in Alberta, will have a combined cost estimated of $900 million.
The company intends to file a regulatory application for the terminal in spring 2013, followed by a separate application for the pipeline in the fall.
Construction of the projects are expected to be completed during the second half of 2015.
JOC NEWS SERVICE
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