TransCanada to build Cushing storage by year-end

Reuters

NEW YORK, Oct 15 (Reuters) - TransCanada Corp willcomplete construction of tank and storage facilities at the keyCushing, Oklahoma, oil storage hub late this year as part of itsproject for the southern leg of the Keystone XL pipeline, thecompany said on Tuesday.

In a press release highlighting job opportunities created bythe project, the Canadian company reiterated its plan to bringthe Keystone southern pipeline to commercial service at the endof 2013.

TransCanada plans to build 7 crude oil storage tanks with atotal capacity of 2.25 million barrels at Cushing, according topermit applications filed with the Oklahoma Department ofEnvironmental Quality.

The pipeline will ship 700,000 barrels per day of U.S. andCanadian oil from Cushing to Nederland, Texas, when it startsoperating. Its capacity can expand to 830,000 bpd.

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