TransCanada Corporation has launched an open season to gain bidding commitments from interested firms for the proposed Keystone Hardisty Terminal to be located in Alberta, Canada.
The proposed project is an above ground, two million barrel crude oil batch accumulation terminal with tankage and pipeline infrastructure that could be expanded in the future.
The terminal project will provide new infrastructure for Western Canadian producers and access to the Keystone pipeline system.
The terminal will be the end point for pipelines delivering bitumen produced in the oil sands and help reduce the US dependence on foreign crude.
Subject to the receipt of contractual commitments from shippers, the company plans to proceed with the necessary regulatory applications for approvals to construct and operate the terminal.
The project forms part of the first phase of the Keystone XL project the existing Keystone Pipeline System, a 3,461km pipeline delivering over 500,000 barrels per day of crude oil from Canada to US Midwest markets and Cushing, Oklahoma.
The project is expected to be in-service by early 2015.
TransCanada's natural gas pipelines network extends more than 57,000km covering all major gas supply basins in North America.