Cenovus supports Canadian West-East pipeline plan

Thu Feb 14, 2013 12:20pm EST
 

CALGARY, Alberta (Reuters) - Cenovus Energy Inc will make a large show of support for TransCanada Corp's plan to ship oil sands-derived crude to Eastern Canada in a converted natural gas pipeline when bids for capacity are called, an executive said on Thursday.

"We believe it is very important for the country, Canada, to move volumes to export off the East Coast as well as to Quebec for refineries there," Cenovus Vice President Don Swystun said on a conference call. "So we will be having a significant participation when that line goes to open season."

Cenovus has committed volumes to several other proposed pipelines as well, including 175,000 barrels a day to the Enbridge Inc Northern Gateway and Kinder Morgan Trans Mountain expansion projects, and 150,000 barrels a day to TransCanada Corp's Keystone XL and Enbridge's Gulf Coast projects, Swystun said.

(Reporting by Jeffrey Jones; Editing by Bernard Orr)