TransCanada Corp. has announced that its Energy East pipeline will cost billions of dollars more than initial estimates had suggested.
New carbon constraints and plunging commodity prices have hit hard in the oilsands sector.
The Calgary-based company said yesterday that the capital cost for the proposed 4500 km pipeline to Canada鈥檚 East Coast has increased by one-third, to CAN$15.7-billion.
The new cost reflects some 700 route changes and an earlier decision to scrap a planned export terminal in Quebec.
TransCanada already signalled last month that it was prepared to make changes to the Energy East proposal when it announced there would be no export terminal built in Quebec due to opposition over the environmental risks.
Edited from various sources by
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