TransCanada makes initial filing for $12B Energy East oil pipeline

|About: TransCanada Corporation (TRP)|By:, SA News Editor

TransCanada (TRP) yesterday took a key step toward obtaining regulatory approval for its proposed $12B Energy East oil pipeline, as it filed a preliminary project description with the National Energy Board.

The pipeline would connect 1.1M bbl/day of crude from western Canada to refineries and export terminals in Quebec and New Brunswick; the project involves converting part of TRP's existing natural gas mainline to oil service between Alberta and Quebec and then laying new pipe the rest of the way.

TRP expects to file a full regulatory application for Energy East this summer, with startup expected in 2018.