TransCanada, Phoenix Launch $3B Alberta Pipeline Venture

Law360, New York (October 29, 2012, 1:48 PM EDT) -- Energy giant TransCanada Corp. and Phoenix Energy Holdings Ltd. have agreed to a CA$3 billion (US$3.01 billion) joint venture pipeline project to transport oil from northern Alberta to Edmonton and other markets in southern Canada, TransCanada said Monday.

Calgary-based TransCanada said that the venture would be split 50-50 between the two companies. The pipeline is set to run roughly 310 miles, connecting the oil fields northwest of Fort McMurray with Edmonton and the Industrial Heartland region of Alberta.

The project is slated for completion in early...
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