Project Profile
Value: US$3 billion
Location: Northwest of Fort McMurray and the Edmonton/Heartland region, Alberta, Canada
Capacity: 900,000 barrels per day of crude oil and 330,000 barrels per day of diluent
Length: 500 kilometres
Start-up Year: second half of 2017
TransCanada Corporation has entered into binding agreements with Phoenix Energy Holdings Limited (Phoenix) to develop the Grand Rapids Pipeline project in Northern Alberta. TransCanada and Phoenix will each own 50 per cent of the proposed US$3 billion pipeline project that includes both a crude oil and a diluent line to transport volumes approximately 500 kilometres between the producing area northwest of Fort McMurray and the Edmonton/Heartland region. The Grand Rapids Pipeline system is expected to be in-service by early 2017, subject to regulatory approvals, with capital spent between 2014 and 2017. The system will have the capacity to move up to 900,000 barrels per day of crude oil and 330,000 barrels per day of diluent. TransCanada will operate the system and Phoenix has entered a long-term commitment to ship crude oil and diluent on it. The final Grand Rapids Pipeline route and design will be determined with Aboriginal and stakeholder input, as well as consideration for environmental, archaeological and cultural values, land use compatibility, safety, constructability and economics. TransCanada expects to apply for regulatory approval for the project in 2013. As a member of the world Dow Jones Sustainability Index, TransCanada is an industry leader that is committed to minimizing the impact of its operations. The project will be constructed, owned and operated by the Grand Rapids Pipeline Limited Partnership. In August 2015, Keyera Corp. agreed to acquire 50% interest in the southernmost section of the 20-in. diluent Grand Rapids pipeline, entering into a 50-50 joint venture with the Grand Rapids Pipeline Limited Partnership, itself a 50-50 JV of TransCanada Corp. and PetroChina Co. Ltd. Canadian subsidiary Brion Energy Corp. The expected in-service date is in the second half of 2017 subject to regulatory approvals.
Operators:
Grand Rapids Pipeline Limited Partnership: Operator with 50% interest
TransCanada Corporation: 50% interest in the Partnership
PetroChina Co. Ltd. (through Canadian subsidiary Brion Energy Corp.): 50% interest in the Partnership
Keyera Corp.: 50% interest