TransCanada go-ahead for Gulf Coast project

By Tonya Zelinsky Calgary

 02 August 2012 22:59 GMT

TransCanada will begin construction on its Gulf Coast project, a spin-off of its controversial Keystone XL pipeline, after receiving approval from the US Army Corps of Engineers.

Last week the Canadian pipeline operator said construction of its US$2.3 billion oil pipeline from Cushing, Oklahoma to the US Gulf coast would begin this summer.

The 780-kilometre line will have an initial capacity of up to 700,000 barrels per day and ultimate capacity of 830,000 bpd. It is expected to be in service by late 2013.

On a conference call with analysts, TransCanada chief executive Russ Girling said that receiving the last of three permits means work can begin immediately.

It is estimated about 4000 US jobs will be created during project construction.

“News…

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