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TransCanada to cut spot rates for crude shipments to U.S. Midwest, Gulf Coast

April 12, 2019 12:37 PM
Reuters

TransCanada Corp’s Keystone Pipeline filed with U.S. regulators this week to lower spot rates to ship crude from Canada to Illinois, Oklahoma and Texas:

* TransCanada proposed to lower discounted rates for light crude volumes from or near Manitoba, Canada to Wood River, Illinois to $19.67 per cubic meter from $24.39, according a filing with the U.S. Federal Energy Regulatory Commission (FERC) this week; for heavy crude, it asked to cut rates to $21.70 from $25.79.

* The company proposed lowering tariffs for light crude shipped to Patoka, Illinois to $20 per cubic meter from $24.72 and to $21.63 from $26.35 for heavy crude.

* For deliveries to Cushing, it proposed to lower rates to $23.46 from $28.18 per cubic meter for light crude and to $24.76 from $29.48 per cubic meter.

* For spot shipments from Hardisty, Alberta to Port Arthur and Houston, Texas it proposed to lower rates to $8.05 per barrel for light crude and to $8.75 per barrel for heavy crude.

* The 590,000 barrels-per-day Keystone pipeline system is a critical artery taking Canadian crude from northern Alberta to refineries in the U.S. Midwest from there, via the Marketlink line to the Gulf Coast.

* The new rates are set to take effect on May 1.

(Reporting by Laila Kearney in New York; Editing by Richard Chang)

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