TransCanada Launches Binding Open Season for Keystone Hardisty Terminal

abarrelfullabarrelfull wrote on 02 Mar 2012 11:24
Tags: canada pipeline storage transcanada


TransCanada Corporation (TSX, NYSE: TRP) (TransCanada) today launched an open season to obtain binding commitments from interested parties for the Keystone Hardisty Terminal, which will be located at the major crude oil terminal hub in Hardisty, Alberta.

The proposed project is an above ground, two million barrel crude oil batch accumulation terminal with tankage and pipeline infrastructure that could be expanded subject to the level of interest received in this open season. The proposed project will provide new infrastructure for Western Canadian producers and access to the Keystone Pipeline System.

Following completion of the open season, which closes at 12 p.m. (Mountain) on March 22, 2012 and subject to receipt of sufficient contractual commitments from shippers, TransCanada intends to proceed with the necessary regulatory applications for approvals to construct and operate the terminal. Subject to regulatory approvals, the project is expected to be in-service by early 2015.

The Keystone Pipeline System is an operational 3,461 kilometre (2,151 mile) pipeline that is delivering over 500,000 barrels per day of Canadian crude oil to U.S. Midwest markets and Cushing, Oklahoma.


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