Heartland Pipeline Project
TransCanada has reached binding long-term shipping agreements to build, own and operate the Alberta-based Heartland Pipeline and TC Terminals Projects.
The projects are being developed to support growing crude oil production in Alberta and will include a 200-kilometre (125-mile) 914 millimetre (36-inch) pipeline connecting the Edmonton region to facilities in Hardisty, Alta., and a terminal facility in the Heartland industrial area north of Edmonton. TransCanada anticipates the pipeline could ultimately transport up to 900,000 barrels of crude oil a day, while the terminal is expected to have storage capacity for up to 1.9 million barrels of crude oil. The projects have a combined cost estimated at $900 million.
TransCanada began initial engagement with stakeholders and Aboriginal communities through a feasibility study in the fall of 2012.
TransCanada filed a permit application for the Heartland Pipeline Project (Project) in October 2013 with the Alberta Energy Regulator (AER). On May 7, 2015 the Project was approved.
Following the approval for the Project, there has been an unprecedented decline in crude oil prices. As a result, Western Canadian producers have re-evaluated the timing of projects, and delayed development plans until more supportive market conditions emerge. Consequently, TransCanada does not expect to begin construction on the Project in 2016. TransCanada will continue to keep stakeholders and Aboriginal communities informed as the Project progresses.
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