TransCanada to proceed with Keystone Hardisty terminal

TransCanada Corp. received binding long-term commitments in excess of 500,000 b/d during the open season for its Keystone Hardisty terminal project (OGJ Online, Mar. 1, 2012), allowing it to expand the proposed 2 million bbl of oil batch accumulation tankage and pipeline infrastructure to 2.6 million bbl. Subject to regulatory approvals, TransCanada expects the project to enter service by late-2014.

The terminal project will cost about $275 million.

The 2,154-mile Keystone Pipeline delivers more than 500,000 b/d of oil to the US Midwest and Cushing, Okla.

On May 4, TransCanada applied to the US Department of State for a Presidential Permit for the Keystone XL Pipeline from the US-Canada border in Montana to Steele City, Neb (OGJ Online, May 4, 2012). TransCanada expects to receive the permit and begin construction of Keystone XL in first-quarter 2013, with completion slated for late 2014 or early 2015.

Contact Christopher E. Smith at chriss@ogjonline.com.

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