A letter will be sent from the Town of Castor to TransCanada detailing their support for the development of the Energy East Pipeline town council decided at their regular meeting on Aug. 10.
The Energy East Pipeline, being developed by TransCanada, is a 4,600 km batch crude oil pipeline that will carry 1.1-million barrels of crude oil per day from Alberta and Saskatchewan to refineries in Eastern Canada.
The exact route is still unclear for the pipeline and will only be determined after a public and regulatory review but the planned starting point is a new tank terminal in Hardisty, Ab.
According the company’s website website currently, the project has the following major components:
– Converting an existing natural gas pipeline to an oil transportation pipeline.
– Constructing new pipelines in Alberta, Saskatchewan, Manitoba, Eastern Ontario, Québec and New Brunswick to link up with the converted pipe.
– Constructing the associated facilities, pump stations and tank terminals required to move crude oil from Alberta to Québec and New Brunswick, including marine facilities that enable access to other markets by ship.
Funds for Castor
Municipal Affairs informed Council that they are committed to honouring the Municipal Sustainability Initiative (MSI) funding for 2015-16. Castor will receive $294,787 in funding, $232,252 of that the town received on Aug. 10.
Castor’s Small Communities Fund grant was approved which will see the town receiving $1,315,100 from each of the Provincial and the Federal Governments. The Town of Castor will also have to provide that amount over a four year period.