News

Risks of Energy East pipeline outweigh benefits: Ontario Energy Board

Risks of Energy East pipeline outweigh benefits: Ontario Energy Board
Business
TORONTO -- The Ontario Energy Board says there is an imbalance in the environmental and economic risks of the Energy East pipeline project and the expected benefits.

The board says its primary concerns are about pipeline safety and the impact on lakes, rivers and drinking water in the event of an oil spill, and wants it routed away from environmentally sensitive areas.

It says Ontario residents are also concerned about the impact on natural gas supplies and prices when the pipeline is converted to carry oil.

TransCanada Corp. (TSX:TRP) is planning to build the pipeline at an estimated cost of $12 billion and growing to bring Alberta oil to ports in New Brunswick.

For two-thirds of the way, TransCanada hopes to convert a natural gas pipeline for oil and then build all new pipe thought Quebec and New Brunswick.

The energy board s report will form the basis of the Ontario government s position at the National Energy Board s hearings into the pipeline project.

It follows 15 months of consultations with people living in communities along the proposed route of the pipeline in Ontario, and recommends TransCanada engage residents throughout construction and operation of the project.
Read more on CTVnews
News Topics :
Similar Articles :
Business
The $12 billion project would be one of the biggest infrastructure projects ever built in Canada, spanning six provinces and 4, 600 kilometres. It would ship Alberta crude through pipe thats already...
Business
TORONTO TransCanada Corp. has cancelled its $15.7 billion proposed Energy East pipeline, with CEO Russ Girling citing non specific changed circumstances Thursday morning. Supporters of the Calgary based company s project...
Top Stories
Ontario and Quebec are forging a common strategy on TransCanada Corp.s $12 billion Energy East pipeline project to address its impact on greenhouse gas emissions and to ensure that their natural...
Business
Some 15, 000 pieces of pipe for TransCanada Corp.s Keystone XL pipeline lie in a field in North Dakota on April 23, 2013. The Globe and Mail Market View Video Market...
Business
In January, the NEB invalidated nearly two years of decisions made by the previous panel, a setback for TransCanada s $15.7 billion development, and a new panel was appointed. Published Wednesday,...