TransCanada Corp. is moving forward with its
1.1-million-barrel-per-day Energy East pipeline, which will run
from western Canada to refineries and export terminals in
The line will cost an
estimated Canadian $12 billion ($11.7 billion), the Calgary,
Alberta-based company said Aug. 1.
"Energy East is one
solution for transporting crude oil but the industry also
requires additional pipelines such as Keystone XL to transport
growing supplies of Canadian and U.S. crude oil to existing
North American markets," president and chief executive officer
Russ Girling said.
Energy East will lead
to the construction of about 870 miles of pipeline and convert
some 1,864 miles of a natural gas pipeline, the Canadian
Mainline, to crude oil service, according to the statement.