TORONTO, April 2 The Canadian government said on
Tuesday it was encouraged by TransCanada Corp's
announcement that it plans to move forward on a plan to convert
and build pipeline infrastructure to transport crude oil from
Western Canada to eastern Canadian markets.
The project could potentially eliminate Canada's reliance on
the higher priced crude oil that it currently imports to supply
East Coast refineries.
Calgary, Alberta-based TransCanada, on Tuesday said its
Energy East Pipeline would have the capacity to transport as
much as 850,000 barrels of crude oil per day.
"Our government strongly supports initiatives to construct
energy infrastructure to transport western Canadian oil to the
east," said Canada's Minister of Natural Resources Joe Oliver,
during a press conference. "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."