TSX:CUS.DB.D - Post by User
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Sukhi19on Sep 08, 2014 8:12pm
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Good news
Good news | Canexus Announces Tie-in of Cold Lake Pipeline System Proceeding |
08 Sep 2014 20:03 ET
Marketwire Canada Canexus Corporation (TSX:CUS) (the "Corporation" or "Canexus") today announced that it will immediately resume construction to tie-in the Cold Lake pipeline system from Lamont Station into the MEG Energy Corp. ("MEG") pipeline. This follows a court decision to enforce specifically the terms and provisions of the pipeline agreement between MEG and Canexus. Construction to perform this tie-in is expected to begin as early as tomorrow and to take about two weeks to complete, commission and start-up the pipeline system for Cold Lake Blend product delivery to the Corporation's North American Terminal Operations ("NATO") unit train facility. "NATO is a state-of-the-art, strategically located asset that provides our customers with a viable way to move their products to multiple markets. Once the tie-in work is completed, we will resume loading unit trains and expect to ramp-up operations to our contracted capacity of six to seven unit trains per week. On September 5, 2014, we commenced commissioning the unit train loading rack and are loading oil into railcars from on-site tank storage," said Doug Wonnacott, President and CEO. |