TransCanada files new plan for Energy East pipeline

CALGARY - TransCanada Corp. (TSX:TRP) has filed an amended application and cost estimate for the Energy East pipeline project.

The Calgary-based company says the filing with the National Energy Board makes nearly 700 changes to the route in response to concerns for environmentally sensitive areas.

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The proposed pipeline would take Alberta crude to an Irving Oil refinery in Saint John, New Brunswick.

The project would include existing TransCanada pipeline as far east as Montreal plus new pipeline through Quebec.

TransCanada already signalled last month that it was prepared to make changes to the Energy East proposal, when it confirmed there would be no export terminal built in Quebec due to opposition to the environmental risks.

At the time, the project was estimated to cost $12 billion but TransCanada now estimates the cost at $15.7 billion -- not counting the value of existing pipeline assets that will be used for part of Energy East.



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