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TransCanada’s Energy East pipeline costs up 30 pct to $15.7bn –

by ahnationtalk on December 18, 2015405 Views

December 17, 2015

TransCanada Corp (TSX, NYSE:TRP), the company behind the rejected Keystone XL pipeline, filed Thursday a revised application for its Energy East pipeline that includes route changes, and pegs the total cost of the project at $15.7 billion, compared with an initial cost estimate of $12 billion.

The new plan makes nearly 700 changes to the pipeline, which would take Alberta crude to an Irving Oil refinery in New Brunswick, in response to concerns for environmentally sensitive areas, such as the Bay of Fundy, in Atlantic Canada.

“Canadians want assurances this project does not come at the expense of safety and the environment – and this application shows we can do that,” TransCanada president and CEO Russ Girling said in a statement. “We are listening and acting on what we have heard.”

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