08/01/2013 04:44 EDT | Updated 10/01/2013 05:12 EDT

Energy East Pipeline: Brad Wall Applauds West-East Pipeline Plan For Western Oil

SASKATOON - Saskatchewan Premier Brad Wall says a proposed pipeline that would move oil from Western Canada to the East Coast would bring many benefits to his province.

TransCanada Corp. has announced that it is moving ahead with a $12-billion plan to ship crude oil from Alberta, through Saskatchewan and on to eastern refineries.

The pipeline would move 1.1 million barrels of oil a day and would use existing natural gas lines in Saskatchewan as well as new lines.

Wall says the project would create jobs in the province.

He says it would also add to the government's pocketbook.

TransCanada needs regulatory approval before the pipeline can go ahead.

"In terms of direct impact, we're going to see jobs in Saskatchewan as they build the terminals to accommodate the movement of more Saskatchewan oil to the East Coast," Wall said Thursday.

"It means taxation directly from the pipeline and, very significantly, it means we can maximize the price that we get for our oil. Right now we sell it at a discount to our American friends."

The premier said moving oil to Atlantic ports will result in greater profits for all of Canada.

TransCanada says the pipeline could be delivering oil to Quebec in 2017 and New Brunswick a year later.

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