Michele Kearney's Nuclear Wire

Major Energy and Environmental News and Commentary affecting the Nuclear Industry.

Wednesday, October 31, 2012

TransCanada Agree Deal with PetroChina to Build $3 Billion Oil Pipeline

TransCanada Agree Deal with PetroChina to Build $3 Billion Oil Pipeline

TransCanada Corp., the company behind the Keystone XL pipeline and Canada’s largest pipeline company, has agreed a deal with Phoenix Energy Holdings Ltd., a unit of PetroChina Co. Ltd., to build a $3 billion oil pipeline in Northern Alberta.The Grand Rapids Pipeline will transport crude oil from the Athabasca oil sands for about 500km to the Edmonton-Heartland region.Zhiming Li, the chief executive officer of Phoenix, stated that, “transportation in the Athabasca region has become a bottleneck. This transportation solution will be important…Read more...http://oilprice.com/Latest-Energy-News/World-News/TransCanada-Agree-Deal-with-PetroChina-to-Build-3-Billion-Oil-Pipeline.html

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