TransCanada Launches Binding Open Season For Keystone Hardisty Terminal
TransCanada Corporation (TransCanada) recently 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.
About TransCanada
With more than 60 years experience, TransCanada is a leader in the responsible development and reliable operation of North American energy infrastructure including natural gas and oil pipelines, power generation and gas storage facilities. TransCanada's network of wholly owned natural gas pipelines extends more than 57,000 kilometres (35,500 miles), tapping into virtually all major gas supply basins in North America. TransCanada is one of the continent's largest providers of gas storage and related services with approximately 380 billion cubic feet of storage capacity. A growing independent power producer, TransCanada owns or has interests in over 10,800 megawatts of power generation in Canada and the United States. TransCanada is developing one of North America's largest oil delivery systems. For more information, visit http://www.transcanada.com/.
SOURCE: TransCanada Corporation