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TransCanada moves ahead with Energy East pipeline

Keywords: Tags  TransCanada Corp., Energy East, pipeline, crude oil, U.S., Canada, Canadian Mainline, Russ Girling Thorsten Schier

NEW YORK — 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 eastern Canada.

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.

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