| CALGARY, Alberta, Sept 10
CALGARY, Alberta, Sept 10 TransCanada Corp
said on Tuesday its planned C$12 billion Energy East
pipeline would create an estimated 10,000 jobs during
development and construction and more than C$10 billion in tax
As it waits on a long-delayed U.S. approval of its
controversial Keystone XL project, TransCanada executives touted
the benefits of the Energy East line. The pipeline, which would
be North America's longest and most expensive, would move 1.1
million barrels per day of Alberta crude oil to Atlantic
Citing a commissioned study by accounting firm Deloitte &
Touche LLP, the company said the project would benefit the six
Canadian provinces along the line's route and create as many as
1,000 jobs after construction is complete.
The release of the study comes as critics of the Keystone
XL line continue to question TransCanada's claim that the
project will create thousands of jobs. However, TransCanada
Chief Executive Officer Russ Girling said the company stood by
its estimate for the U.S. project and had developed the
employment figure for the Energy East line from an
"There are certain folks that are opposed to the
development of pipelines and, I think, have purposely tried to
confuse the job numbers," Girling said on a conference call.
"What we are trying to do is be as transparent as possible in
terms of the job numbers."
In terms of the 13,000 jobs TransCanada said the Keystone
XL pipeline would create, "we can break (them) down job by job."
The 4,400-kilometer (2,700-mile) Energy East line would
take oil from Hardisty, Alberta, to a deep-water port at Saint
John, New Brunswick, where it could be shipped to refiners in
the United States, Europe and Asia. The project will also let
eastern Canadian refineries replace 700,000 bpd of imported
crude with less expensive Western Canadian oil.
While environmental groups oppose the project, the
Canadian government supports the concept of a pipeline to the
Atlantic coast. Joe Oliver, Canada's minister of natural
resources, said the line would contribute to the "energy
security" of North America.
"Replacing higher-cost foreign crude with lower-cost
Canadian crude for refineries in Quebec and Atlantic Canada
would protect and increase job opportunities in the refinery
sector and ensure a competitive fuel supply for consumers,"
Oliver said in a release.
TransCanada will convert 3,000 kilometers of an
underutilized natural gas mainline system to carry crude oil
through Saskatchewan to Cornwall, Ontario, near the Quebec
border, a move that has some critics worrying that eastern
Canadian natural gas supplies could be squeezed during a cold
winter. However the company said the system would still be able
to meet demand.
"We are committed to ensuring sufficient capacity is
available to meet all of the ... needs," Girling said.
Shares of TransCanada were up 0.5 percent at C$46 in morning