This article was last updated on April 16, 2022
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Results of a recent economic analysis released on Tuesday have shown that the west-east pipeline, proposed by TransCanada Corp., has the capacity of generating more than 10,000 jobs and produce additional $10 billion in GDP during the construction phase. These findings were released by the Calgary-based company illustrating an independent report prepared by Deloitte on Tuesday morning.
The report alleged that an estimate of 2,300 jobs will be created during the development period, along with 7,700 more jobs during the construction phase. The Deloitte report projected that the proposed pipeline could add $10 billion in GDP across the country. The company’s president and chief executive officer, Russ Girling, mentioned in a statement that “Energy East is a critical infrastructure project for all Canadians because it will enhance our country’s energy security, allow us to receive greater value for our important natural resources and will create tangible economic benefits for communities across the country.” The Energy East pipeline project still requires a regulatory approval to go ahead, but in case it is allowed, it’s aimed at sending 1.1 million barrels of oil per day from Western Canada to refineries and export terminals in Eastern Canada.
In an announcement made in August, the corporation declared that it has decided to move forward with the project, for which, it is holding meetings in New Brunswick to discuss the pipeline with citizens in communities that could be affected. TransCanada has projected the pipeline to cost $12 billion, excluding the transfer value of Canadian Mainline natural gas assets.
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