HOUSTON (Reuters) - NuStar Energy LP (NS.N) is in the “very early stages of development” of a potential project to take shipments of Western Canadian crude via rail at its Nova Scotia terminal and storage operation to export via tanker, an executive told analysts at the company’s annual analyst meeting on Monday.
Doug Comeau, executive vice president and chief operating officer, said the Point Tupper, Nova Scotia asset is the furthest north ice-free port in North America, and can load large oil tankers with Canadian crude for export.
NuStar Chief Executive Curt Anastasio also said moving crude via rail opens that opportunity for the Nova Scotia operation, both for crude and natural gas liquids.
He said NuStar would start with mixed-freight rail shipments with 16 to 20 railcars carrying crude. But Comeau reiterated that the project is in early stages with “not a lot to speak of” in terms of further details.
Reporting By Kristen Hays