TransCanada Corporation has reached binding long-term shipping agreements to build, own and operate the proposed Alberta-based Heartland Pipeline and TC Terminals projects in Canada.
The proposed projects are being developed to support growing crude oil production in Alberta and will include the 200km pipeline connecting the Edmonton region to facilities in Hardisty, Alberta and a terminal facility in the Heartland industrial area north of Edmonton. TransCanada anticipates the pipeline could ultimately transport up to 900,000 bbl/d of crude oil, while the terminal is expected to have storage capacity for up to 1.9 mb of crude oil. The projects have a combined cost estimated at C$900m (US$890m) and are expected to come into service during the second half of 2015.
TransCanada currently operates 24,200 km of natural gas pipelines across Alberta and 3,500 km of crude oil pipelines through its Keystone Pipeline.