US approves new oil pipeline from Canada
Sunday, 16 March 2008
OTTOWA, March, 15 (AFP): US authorities gave the green light yesterday for Canadian group TransCanada Corp to build a 2,148-mile (3,456-kilometer) pipeline to transport crude oil from Canada to the United States.
The State Department confirmed the deal. The Keystone pipeline was expected to increase US oil imports from Canada "by an amount equivalent to as much as 4.5 per cent of total US daily imports."
TransCanada president and CEO Hal Kvisle said in a statement that construction would begin in the second quarter of 2008, to be completed at the end of 2009.
The pipeline will be capable of delivering 590,000 barrels per day of crude oil from Hardisty, Alberta, to US Midwest markets at Wood River and Patoka, Illinois, and to Cushing, Oklahoma.
In 2004, Canada became the largest supplier of crude oil to the US. According to the State Department, it supplied 2.3 million barrels of oil per day in 2006, the equivalent of 17 per cent of total US imports.
The State Department confirmed the deal. The Keystone pipeline was expected to increase US oil imports from Canada "by an amount equivalent to as much as 4.5 per cent of total US daily imports."
TransCanada president and CEO Hal Kvisle said in a statement that construction would begin in the second quarter of 2008, to be completed at the end of 2009.
The pipeline will be capable of delivering 590,000 barrels per day of crude oil from Hardisty, Alberta, to US Midwest markets at Wood River and Patoka, Illinois, and to Cushing, Oklahoma.
In 2004, Canada became the largest supplier of crude oil to the US. According to the State Department, it supplied 2.3 million barrels of oil per day in 2006, the equivalent of 17 per cent of total US imports.