National Energy Board approves TransCanada - Keystone Facilities Transfer

abarrelfullabarrelfull wrote on 01 Feb 2013 06:53

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9 February 2007

The National Energy Board (NEB) has approved an application submitted by TransCanada PipeLines Limited (TransCanada) and TransCanada Keystone Pipeline GP Ltd. (Keystone) on 5 June 2006, to transfer certain pipeline facilities from TransCanada to Keystone.

The facilities approved for transfer consist of approximately 860 kilometres (530 miles) of 864 mm (34-inch) outside diameter pipeline of TransCanada's mainline natural gas transmission Line 100-1 between Burstall, Saskatchewan and Carman, Manitoba (Facilities). TransCanada and Keystone indicated in their application that it is Keystone's intention to convert the Facilities from gas transportation service to oil transportation service for use in the proposed Keystone Pipeline if an application for that project is approved by the NEB.

The Board determined that the appropriate test to use to examine this application was the public interest, as opposed to the no harm to gas shippers test, which was proposed by some intervenors.

The NEB also approved TransCanada's request to reduce its Canadian Mainline rate base by the net book value (NBV) of the Facilities. It also approved Keystone's request to include the NBV in the Keystone Pipeline's accounts upon the transfer and to continue including it in its accounts if the Keystone Pipeline is placed in oil transmission service.

The NEB determined the application to be in the public interest, recognizing that the Facilities will not be transferred until and unless Keystone receives additional approval from the NEB to construct and operate the Canadian portion of the proposed Keystone Pipeline. On 12 December 2006, Keystone filed an application for the approvals required for the proposed Keystone Pipeline with the Board.

The NEB considered the application at an oral public hearing held from 23 October 2006 to 14 November 2007 in Calgary, Alberta.

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