CALGARY – Oilsands plants will net price premiums of up to $20 a barrel by extending exports to the Gulf of Mexico coast, TransCanada Corp. president Harold Kvisle predicted Thursday.
Thirsty Texas and Louisiana refineries routinely pay more than crowded markets closer to the Alberta bitumen belt.
TransCanada is poised to build new southbound links to the Gulf facilities.
Oilsands supplies are sought after in the region as secure and reliable replacements for unpredictable imports from declining production sources in Venezuela and Mexico, he said.
About $5.2 billion in construction will start this spring on the first and longest leg in a planned new oil route from the Hardisty pipeline hub southeast of
Edmonton to the U.S. gulf coast, Kvisle told an industry conference held by Insight Information.
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