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New pipeline project seeks to succeed where Energy East failed

A new transcontinental pipeline project similar to the defunct Energy East project is in its formative stages.

A recent JWN article suggests a new pipeline project that would transport Western Canadian oil from Hardisty, Alberta to Saint John, New Brunswick, is in the early planning stages.

The project is called the Canadian Prosperity Pipeline Project, or CP3. It would cost about $23 billion and have an estimated capacity of 1.1 million barrels per day. Like the now defunct Energy East project, CP3 would pass through Saskatchewan, Manitoba, Ontario and Quebec on its way to a marine tanker terminal in New Brunswick.

The goal of the project is to provide a domestic supply source to refineries in Eastern Canada which now rely heavily on foreign oil sources. In 2018, Canada imported $19.4 billion worth of oil, including from places like Saudi Arabia and Azerbaijan. The project proponents would seek to displace this oil with Western Canadian sources, with surplus sent internationally via the tanker terminal.