FREDERICTON – Alberta Premier Alison Redford says Canada’s biggest challenge is to improve access to international markets as she steps up efforts to promote a proposal to ship oil to Eastern Canada.
Redford spoke to the New Brunswick legislature in Fredericton today, where she said Alberta’s lack of direct access to a coastal shipping route contributed to a $6 billion slide in her province’s revenues this year.
She will also speak to members of the Saint John Board of Trade and tour the Irving Oil refinery later today as she and New Brunswick Premier David Alward further discuss a west-to-east pipeline.
TransCanada Corp. (TSX:TRP) is considering to convert an existing 3,000-kilometre natural gas pipeline to carry crude into Quebec, with the possibility of a 1,400-kilometre extension to Saint John.
The company is seeking binding commitments from oil producers by June 17 before deciding whether to go ahead with the idea.
It says if the development proceeds, it could begin shipping as much as 850,000 barrels of oil per day in late 2017.
Alward said he is confident the proposal, known as the Energy East Pipeline project, can stand on merit.