National Energy Board Schedules Hearing on Keystone XL Pipeline Project

The National Energy Board (NEB) has scheduled an oral hearing on an application from TransCanada Keystone Pipeline GP Ltd.
(Keystone) to construct and operate the Canadian portion of its proposed Keystone XL pipeline project.

The hearing is scheduled to start on Tuesday, September 15, 2009 at 9:00 a.m. at a location to be determined.

The proposed project is a crude oil line that would run from Alberta to markets in the Gulf Coast area of the United States (U.S.). The Canadian portion of the Keystone XL pipeline extends from Hardisty, Alberta to the Canada/U.S. border at Monchy, Saskatchewan. The Canadian portion would involve the construction and operation of approximately 525 kilometre (km) of pipeline and related facilities, including pump stations, tanks and other related works and activities. Keystone is proposing to begin construction in mid-2010 and to complete construction by 2012. The pipeline would have an initial capacity of approximately 700,000 barrels per day and is designed to be expandable to 900,000 barrels per day.