TransCanada Moves Forward With Grand Rapids Pipeline

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TransCanada Corp. announced that the Alberta Energy Regulator (AER) has approved the majority of the company’s applications to construct and operate the Grand Rapids Pipeline project. Grand Rapids will comply with all regulatory requirements and is evaluating the conditions in the decision.
  TransCanada has partnered with Brion Energy Corp., formerly Phoenix Energy Holdings Ltd., through a joint venture to develop Grand Rapids, a 287-mile oil and diluent pipeline system connecting the producing area northwest of Fort McMurray, Alberta to terminals in the Edmonton/Heartland region. TransCanada and Brion will each own 50 percent of the $3 billion pipeline project, which will be operated by TransCanada. Brion has also entered into a long-term transportation service contract in support of Grand Rapids.
  The project is expected to begin construction in fall 2014 and become operational in stages, with initial crude oil transported by mid-2016. The full system will have an ultimate capacity to move up to 900,000 bpd of crude oil and 330,000 bpd of diluent.