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TransCanada's 'Energy East' pipeline goes forward at an estimated $12b

TransCanada says it moving ahead with it’s Energy East pipeline at an estimated cost of $12-billion.

It will carry Albertan crude oil to refineries and export terminals in Quebec and New Brunswick.

Irving Oil also announced today it would build the Canaport Energy East Marine Terminal for a $300-million cost.

It says it would handle the crude oil flowing from western Canada through the pipeline and export it to world markets.

TransCanada says the proposed project would just need to convert natural gas pipeline between western Canada and Montreal.

It says it would then look at adding an extension from Montreal to the port city of Saint John, which is where Irving Oil is, Canada’s largest refinery.

August 1st, 2013