OTTAWA, ONTARIO -- (Marketwired) -- 04/02/13 -- The Honourable Joe Oliver, Canada's Minister of Natural Resources, said he was encouraged by today's announcement by TransCanada Corporation (TransCanada) that sufficient market support exists to proceed to a binding open season for contracts for crude oil from Western Canada to Eastern Canadian markets.
"Our government strongly supports initiatives to construct energy infrastructure to transport western Canadian oil to the east," said Minister Oliver. "It is in the national interest to replace higher-cost foreign crude with lower-cost Canadian crude to consumers and refineries in Quebec and Atlantic Canada."
If successful, it is expected that TransCanada would submit a proposal for the conversion and extension of its mainline pipeline for regulatory review.
"Connecting Canadians from West to East is an inclusive idea that dates back to our beginnings as a country," said Minister Oliver. "Moving Canadian energy east, subject to objective, science-based review, would contribute to Canadian energy security."
The Harper Government continues to work aggressively to keep taxes low, introduce new environmental protections and strengthen relationships with new, emerging energy markets that would help make a west-east infrastructure a reality. The Harper Government welcomes proposals for energy infrastructure that are critical to Canadian jobs and long-term economic prosperity.
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