TransCanada OKs $12B Crude Pipeline To Eastern Canada

Law360, New York (August 1, 2013, 1:50 PM EDT) -- TransCanada Corp. announced on Thursday that it is moving ahead with a $12 billion project that will transport up to 1.1 million barrels of oil a day into eastern Canada from the country’s western provinces and potentially eliminate the need for foreign crude imports into the region.

The Energy East Pipeline, which will require the conversion of more than 1,800 miles of natural gas pipelines into crude oil service, was given the nod after a strong open-season market response allowed TransCanada to secure long-term crude transport...
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