TransCanada to accelerate Ontario natural gas pipeline extension

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

TransCanada (TRP -0.2%) says it plans to build up to 370 km of new natural gas pipelines in Ontario to accommodate growing demand from the U.S. northeast.

The Eastern Mainline project is designed to meet commercial obligations following the conversion of parts of the gas system to carry crude oil as far as Canada’s east coast under the $12B Energy East project, which would deliver up to 1.1M bbl/day of crude from western Canada and North Dakota’s Bakken region to export terminals in Quebec and New Brunswick.

TRP does not disclose cost estimates for Eastern Mainline; startup is targeted for late 2016, while Energy East is scheduled to begin oil deliveries in 2018.