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TransCanada closer to eastbound oil sands pipeline

TransCanada says it’s getting closer to piping oil sands crude to the east coast.

It says there’s more than enough interest from companies to send bitumen to Quebec and New Brunswick.

As a result, it’ll be asking companies for firm commitments soon.

If that goes well, it plans to apply for regulatory approval and get the line up and running by late 2017.

The company doesn’t plan to build new pipe, but instead convert natural gas pipelines that currently flow west.

If it does that, it could ship 850 thousand barrels per day to places like the Irving refinery in Saint John, New Brunswick.

April 2, 2013