Irving Oil and TransCanada have formed a joint venture to develop and construct the new Canaport Energy East Marine Terminal at Irving Canaport in Saint John, New Brunswick, Canada.
“The Canaport Energy East Marine Terminal will connect TransCanada's Energy East Pipeline to an ice-free, deepwater port," said Paul Browning, president and CEO of Irving Oil. “It will allow Canadian producers direct access to world markets for exporting Canadian oil via the world's largest crude-carrying vessels."
The project timeline for the marine terminal, which is expected to begin with engineering and design work in 2015, will coincide with Energy East Pipeline project developments. The new Canaport Energy East Marine Terminal will be located adjacent to Irving Oil's existing import terminal and will be operated by Irving Oil.