Tuesday, August 07, 2012

TransCanada to make its first oil sands pipeline

TransCanada has been selected to built a 90 km oil sands pipeline between the Fort Hills Mine and the Voyageur Upgrader. Fort Hills is a 60-20-20 joint venture between Suncor, Total and Teck Resources. Voyageur is a 50-50 joint venture between Total and Suncor.

The "Northern Courier" pipeline is expected to cost $660 million and carry 190,000 barrels per day. They have a "tentative target" start date of mid-2013, but it sounds like that's going to be pushed back. It's been a big few weeks for TransCanada, which also received approval for the southern portion of the Keystone XL pipeline from the US government recently. I'm surprised to learn that they do not have any operating oil sands pipelines at the moment.

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