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Article: Canada Pipe Plans Open Trade Route to Asia.
- Article from:
- The Oil Daily
- Article date:
- December 15, 2004
CopyrightCOPYRIGHT 2004 Energy Intelligence Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Two Canadian pipeline companies, Enbridge and Terasen, are locked in a battle to see who can line up enough foreign customers and Alberta producers to back their rival proposals to pipe more oil to the country's west coast.
At stake is the potential opening of a major new oil trade route, channeling Canadian crude across the Pacific to hungry markets in China.
Calgary-based Enbridge is counting on big support from China, most likely state-owned Sinopec, the country's top refiner. It hopes that a Chinese company will become the "anchor tenant" for its new C$2.5 billion (US$2 billion) Gateway project. This would be capable of shipping 400,000 barrels per ...