March 1, 2012 / 4:29 PM / in 6 years

TransCanada gauges interest for Keystone storage terminal

CALGARY, Alberta (Reuters) - TransCanada Corp (TRP.TO), Canada’s largest pipeline company, launched a binding open season on Thursday for two million barrels of storage space in a terminal located at the starting point of its controversial Keystone XL oil pipeline.

The Keystone Oil Pipeline is pictured under construction in North Dakota in this undated photograph released on January 18, 2012. REUTERS/TransCanada Corporation/Handout

The company said the open season, in which would-be shippers on the line can contract for space in the tank farm, will last until March 22.

The storage hub, at Hardisty, Alberta, southeast of Edmonton, is the starting point of TransCanada’s existing Keystone pipeline and the planned Keystone XL pipeline, which will take 830,000 barrels per day of Alberta oil sands crude to refineries in the U.S. Midwest and on the Gulf Coast.

Reporting by Scott Haggett; Editing by Peter Galloway

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