Saint John getting a visit from the President of the Energy East Pipeline to mark the delivery by Trans Canada of huge sections of pipe for construction training. Francis Poirier is confident of the project being approved by the National Energy Board and of oil flowing to Saint John by the end of 2018.
He’s not deterred by the recent drop in the price of oil. Poirier says investors and shippers take the long view over 20 years and the expectation is oil prices will be well above where they currently are.
Poirier says Trans Canada has already spent more than 25 million dollars in New Brunswick and he estimates the project will generate more than 700 million dollars in tax revenue for communities in the province.
Local 900 of the Labourers International Union of North America is over the moon over what the Energy East pipeline would mean for its members in Saint John.
International Representative Phil Hambrook says it will mean two and a half million hours of work and is a life saver for the local.
Premier Brian Gallant says New Brunswick and, more specifically, Saint John is key to Canada diversifying its energy industry by finding emerging markets with its oil refinery and the fact it is the best, deep water ice free port in North America.
TransCanada will construct 500 kilometers of pipeline in New Brunswick from the Quebec Border to Canaport. The $12 billion dollar pipeline will provide up to 1.1 million barrels of crude oil a day.
Poirier estimates the project will create 6 thousand jobs at the peak of construction.
