CALGARY, Alta. — Canadian Pacific is now shipping crude oil by rail from a new transload facility near Lloydminster, Sask. The new facility is designed to accommodate the initial transload and transportation needs of NuStar Energy with a further planned expansion later this year.
“Moving Canadian crude through CP’s North American network is a great complement to our asset base, which includes terminals and a large and expanding fleet of 1,700 coiled and insulated rail cars,” said NuStar president and CEO Curt Anastasio. “We believe that moving undiluted heavy Canadian crude by rail to coastal markets is an economically viable solution that brings added value to the end users, as well as the producers in Canada.”
“This new facility and the planned expansion in 2012 represent an exciting growth opportunity for CP’s energy portfolio,” said CP’s vice-president of energy and merchandise Tracy Robinson. “CP offers a flexible, reliable and efficient method of transporting crude oil and other energy-related products to emerging markets and we are proud to be partnering with NuStar to meet its growing transportation needs.”