TransCanada Corporation (TransCanada) have announced adjustments to the Energy East Pipeline project after continuing to listen to local communities, key stakeholders and its customers. The company will be amending the Energy East application before the National Energy Board (NEB) to remove a port in Quebec from the scope of the project.
TransCanada remains committed to ensuring a Canadian crude oil supply connection to the Suncor and Valero (Jean Gaulin) refineries in Quebec, helping to minimise the pipeline's impact on the environment while continuing to focus on pipeline safety and maximising the project's economic benefits for Canadians.
"Today's announcement demonstrates our dedication to listening and delivering a vital infrastructure project that will provide significant economic benefits to all provinces along the pipeline's route," said Russ Girling, TransCanada's President and Chief Executive Officer.
"We will do this while maintaining our commitment to environmental stewardship and the safe, responsible development of this pipeline. We have demonstrated for more than 60 years that TransCanada has the expertise and commitment to build safe and reliable pipelines to better serve Canadians.
"Pipelines remain the safest and least GHG-intensive way of transporting crude oil to market," added Girling. "By approving and building the Energy East Pipeline we will create the capacity to displace the equivalent of 1570 rail cars of crude oil per day to Eastern Canada."
A recent study supports this point by concluding that Energy East would change the mode of transport of crude oil already produced from rail to pipeline (Navius Research, Report to the Ontario Energy Board, August 2015.)
Girling points out that once the crude oil makes its way to market, Energy East will directly connect with refineries in Quebec and New Brunswick, allowing them access to a secure and less expensive Western Canadian crude oil supply.
Thousands of men and women will be employed in the design and construction of this important infrastructure project. According to a Conference Board of Canada study published late last year, the Energy East project is expected to support an average of 14 000 direct and indirect full-time jobs annually across Canada during development and construction and generate more than CAN$7 billion in additional tax revenues for governments over the next 20 years, along with approximately CAN$36 billion in GDP for Canada.
TransCanada will be sending the NEB amendments to the Energy East application, including the addition of today's changes, in the fourth quarter of 2015. The change in project scope and further refinement of the project schedule is expected to result in an in-service date of 2020, subject to receiving the necessary regulatory approvals and permits.
The 1.1 million bpd Energy East project is an important element of TransCanada's CAN$47 billion of commercially secured growth initiatives. Over the remainder of the decade, subject to required approvals, this industry-leading portfolio of contracted energy infrastructure projects is expected to generate significant growth in cash flow, earnings and dividends.
Edited from source by Stephanie Roker
Read the article online at: https://www.worldpipelines.com/project-news/06112015/energy-east-pipeline-the-safest-way-to-transport-crude/