Liq­uid As­sets

Alberta Oil - - OBSERVER -

EARLY THIS YEAR, EM­BAT­TLED PIPE­LINE OP­ER­A­TOR Tran­sCanada started a side busi­ness, pos­si­bly to take its mind off the frus­tra­tion of stalled Cana­dian pipe­line ap­pli­ca­tions. The coun­try’s se­cond-largest pipe­line op­er­a­tor has be­gun trad­ing oil through a new Cal­gary-based liq­uids trad­ing group, a spokesman told Reuters in Jan­uary. It’s a move that Tran­sCanada has re­port­edly been eye­ing for more than a year.

De­tails of the com­pany’s trad­ing prac­tices have not been made pub­lic, but the re­port in­di­cates that CEO Russ Gir­ling plans to trade all grades of Cana­dian and U.S. crude han­dled along its net­work, which stretches from north­ern Al­berta to the U.S. Gulf Coast.

Chief com­peti­tor En­bridge also op­er­ates a crude oil, nat­u­ral gas liq­uids and nat­u­ral gas trad­ing sub­sidiary through the Cal­gary-based Tidal En­ergy Mar­ket­ing. The group mar­kets an es­ti­mated 120,000 bar­rels per day of Western Cana­dian crude, as well as 15,000 bar­rels per day of nat­u­ral gas liq­uids and 500 mil­lion cu­bic feet of nat­u­ral gas.

Tran­sCanada con­tin­ues its push for ap­proval on the 1.1-mil­lion-bar­rel-per-day En­ergy East pipe­line, which would carry Western Cana­dian crude to the At­lantic coast.

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