Energy East project could open new route amid Keystone delays, Girling says

Oct. 29, 2014 10:43 AM ETTC Energy Corporation (TRP), TRP:CATRPBy: Carl Surran, SA News Editor4 Comments
  • TransCanada's (TRP -0.5%) proposed 1.1M bbl/day Energy East pipeline designed to ship crude from western Canada to refineries in the east also could be used to access the Gulf coast, creating an end-run around U.S. permitting delays for the Keystone XL pipeline, CEO Russ Girling says.
  • The project has been positioned in Canada as a nation-building project, but Girling says it also would open up a new route to ship heavy crude by tanker to Gulf of Mexico refineries without requiring U.S. approval: “Once we’re on the water, we’ll show up just like any other crude oil in the world in the Houston ship channel.”
  • The CEO says he has no plans to abandon Keystone amid increased demand for pipeline capacity from Canadian oil sands producers; oil sands output is up 71% since 2007 and is forecast by research firm IHS to double to 3.8M bbl/day by 2025.

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