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Economic Diplomacy/Sole 24 Ore – 4 September 2013: latest news from around the world. Canada: TransCanada plans oil pipeline for exports to the East Coast and Europe

TransCanada has recently announced its decision to build a new 4400-km pipeline, “Energy East”. Linking the oilfields of Alberta and Saskatchewan with the refineries of eastern Canada, the pipeline will extend to the east coast and have a capacity of 1.1 million barrels/day.

The project envisages the conversion of an existing pipeline from gas to oil and the construction of new connecting lines in Alberta, Saskatchewan, Manitoba, eastern Ontario, Quebec and New Brunswick. New pumping stations are also planned, as well as two sea terminals in Quebec City and St. John, New Brunswick. The total cost is expected to be 12 billion Canadian dollars. When Energy East begins operating, new markets will open up for the oil extracted in western Canada.

Once the crude oil reaches the Quebec and New Brunswick terminals, it could also be transported to Europe and to the eastern seaboard of the United States. The oil could also be used to supply Quebec and Eastern Canada’s own refineries, which currently import about 700,000 barrels/day from North Africa, West Africa and Latin America. (infoMercatiEsteri). Read more, in Italian

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