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TransCanada received National Energy Board (NEB) approval on Feb. 9, 2007 to transfer a section of our Canadian Mainline natural gas transmission facilities to the Keystone Pipeline project to transport crude oil from Alberta to refining centres in the U.S. Midwest.
“This affirmative NEB decision is an important milestone for the Keystone project. The Keystone Pipeline is an innovative and cost competitive solution to link a growing supply of crude oil with a rising North American demand for energy,” said Hal Kvisle, TransCanada’s chief executive officer. “By converting a small segment of our extensive natural gas system to crude oil transmission service, we will maximize the use of an existing asset and still maintain sufficient capacity on our Canadian Mainline system to serve forecasted customer demand.”
The proposed Keystone Pipeline is a 2,965-kilometre (1,842-mile) pipeline with a nominal capacity to transport approximately 435,000 barrels per day of crude oil from Hardisty, Alberta to U.S. Midwest refining facilities at Wood River and Patoka, Illinois.
The Canadian portion of the project involves the conversion of approximately 860 kilometres (530 miles) of existing TransCanada Canadian Mainline pipeline facilities from natural gas to crude oil transmission service and construction of approximately 370 kilometres (230 miles) of new oil pipeline, terminal facilities at Hardisty, Alberta, and more pump stations. The U.S. portion of the project includes approximately 1,730 kilometres (1,075 miles) of new pipeline construction. TransCanada continues to proceed with applications for U.S. regulatory approvals at federal and state levels.
Keystone’s next steps
- TransCanada began an Open Season Jan. 30, 2007 to obtain binding commitments to support the expansion of the Keystone Pipeline to 590,000 barrels per day and the construction of a 468-kilometre (291-mile) extension of the U.S. portion of the pipeline from the Nebraska/Kansas border to the refining and terminal hub near Cushing, Oklahoma. The Open Season closes March 14, 2007, and the expansion is targeted to be in-service in the fourth quarter of 2010.
- The NEB has scheduled a public hearing beginning June 4, 2007 regarding the Keystone Pipeline application filed in December 2006 for approval to construct and operate the Canadian facilities, and approval of the tolls and tariff for the pipeline.
To view a map of the proposed pipeline route and obtain other information about the Keystone Pipeline, visit the project web page at www.transcanada.com/keystone.
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