National Energy Board Approves TransCanada’s Keystone XL Project
After some time of waiting, TransCanada’s Keystone XL project has been approved by the National Energy Board. It is expected to start by early 2011.
Thursday, The National Energy Board finally granted consent to TransCanada Corp.’s request to construct its Keystone XL pipeline project.
This project of TransCanada pertains to its plan of widening the area of its Keystone pipeline in order for it to reach up to the US Gulf Coast.
The National Energy Board’s decision to endorse TransCanada’s application is constituted by twenty-two circumstances relevant to its safety, upholding of the rights of the landowner as well the environment. And among the necessary responsibility that the board tasked to TransCanada is to closely monitor the risk of greenhouse gas emissions.
In Canada, the project is for the 529 kilometer building of pipelines and other systems.
This is a pioneer project to have ever conceptualized connecting Canada’s crude oil to North America’s top refining market.
Hal Kvisle, TransCanada’s President and Chief Executive said that their workers have agreed to share crude oil enough for the 75% of the 17 years of the project, affecting the overall market.
At present there is an application for US regulatory endorsements, which are expected to be decided on within the fourth quarter of this year.
To begin with, the project is up for producing around 700,000 barrels for each day, which is still possible to improve up to 900,000 barrels for a day.
The current covered location of the Keystone pipeline is from Hardisty, Alta., up to the refining stations of Illinois. And come around June or July, or anytime in the middle of the year, the commercial operations is more likely to commence.
The construction project known as the Keystone XL, allows the Keystone pipelines to extensively reach up to the US Gulf Coast, where the people, especially their refineries are really wanting to receive Alberta’s oilsands, which are the best heavy crude produced in Canada. The construction of the pipelines will start more or less in early 2011.
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