NEW YORK Enbridge Inc.s proposed Canadian $6.5-billion ($6.1-billion) Northern Gateway pipeline has been approved by a joint panel convened by Canadas National Energy Board.
"We have concluded that the project would be in the public interest. We find that the projects potential benefits for Canada and Canadians outweigh the potential burdens and risks," the paneltwo board members and a geologistwrote in its final report.
"We found that a large spill is unlikely. We further found that a large spill would initially have significant adverse environmental effects on ecosystems, and we accepted the scientific evidence that indicates the environment would ultimately recover and return to a functioning ecosystem similar to that existing prior to the spill," the panel said of the environmental risks.
The project comprises of twin 731-mile pipelines from near Edmonton, Alberta, to a new marine terminal in Kitimat, British Columbia, to move some of Canadas tar sands oil to Canadas west coast for export to Asia.
Calgary, Alberta-based Enbridges project is expected to boost tubular demand north of the border.
"Were very much looking forward to the chance to bid on this work and the opportunity to see the tubular steel we make at our Canadian operations used in such an important and much-needed energy project," Conrad Winkler, president and chief executive officer of Chicago-based Evraz Inc. North America, said in a statement.