TORONTO – New Brunswick Premier David Alward says a proposed west to east pipeline was discussed, but only in general terms at a meeting with industry and corporate executives Tuesday in Toronto.
Alward says the project was part of a broader round-table discussion about the development of a range of energy projects in Canada that was hosted by federal Natural Resources Minister Joe Oliver.
He says his province is waiting on a decision by TransCanada Corp. (TSX:TRP) on whether it thinks there’s enough industry interest in building a pipeline to ship Alberta oil to the East Coast.
Alward says the meeting was an opportunity to pitch his province as strategically located to be a player in oil refining and as “open for business” when it comes to other possibilities in the energy and natural resources sectors.
TransCanada 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, N.B.
If the project gets the go-ahead it could begin shipping as much as 850,000 barrels of oil per day in late 2017.