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September 25, 2007

National Energy Board approves plan for Keystone Pipeline Project

The National Energy Board has approved an application by TransCanada Keystone Pipeline GP Ltd. to construct and operate the Canadian portion of the Keystone Pipeline project.

“This approval is another major milestone for the Keystone Pipeline project. We’ve made significant financial commitments with suppliers, which will allow the project to proceed with construction in early 2008 and meet an in-service date of fourth quarter 2009,” says Hal Kvisle, TransCanada president and chief executive officer.

The Canadian portion of the project involves the conversion of approximately 864 kilometres of existing Canadian Mainline pipeline facilities from natural gas to crude oil transmission service and construction of approximately 373 kms of pipeline, pump stations and terminal facilities at Hardisty, Alta. The U.S. portion of the project includes construction of approximately 2,219 kms of pipeline and pump stations.

The 3,456 km Keystone Pipeline will transport crude oil from Hardisty, Alta. to U.S. Midwest markets at Wood River and Patoka, Ill. and to Cushing, Okla.

DCN News Services

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