LAKE LOUISE, Alberta Nov 29 Many refineries in
Europe, India and South America are easier to reach from
Canaport, New Brunswick, in eastern Canada, than from the U.S.
Gulf Coast, the chief executive of Irving Oil said on Friday.
Laying out his case for eastern Canada to become a major
marine exporter of crude oil, Irving chief executive Paul
Browning said Canaport is the closest port in North America to
the world's largest refinery, Reliance Industries Ltd's
Jamnagar complex on the west coast of India.
It is also the closest to Repsol SA's 900,000
barrels per day refinery in Spain, Browning told an industry
conference in Lake Louise, Alberta.
He did not say whether any agreement had been made to supply
either company with crude.
Privately-owned Irving Oil and TransCanada Corp are
building a C$300 million marine terminal at Canaport in St.
John, New Brunswick, to export oil sands crude to world markets.
The terminal, and Irving's existing 300,000 bpd St. John
refinery, will be supplied by TransCanada's proposed 1.1 million
bpd Energy East pipeline.
"At Canaport we have a marine terminal with ice free water
that's 128 feet deep, making it capable of unloading the largest
crude vessels in the world year round," Browning said.
"Today our continent is becoming long crude oil. This
creates a new opportunity for Irving Oil ... which is marine
export of oil from Canada."
Nearly all Canadian crude oil exports currently go to the
Browning said it takes less time to sail from Canaport to
many South American ports than from the U.S. Gulf Coast.
He told the conference the eastern Canadian marine terminal
was six days closer to Spain, two days closer to Rio de Janeiro
and four days closer to South Africa than the U.S. Gulf Coast.
He also said Canaport was five days closer to India than the
west coast of Canada.
"If you want to ship crude to China and East Asia you want
to ship it off the west coast of Canada, but if you want to ship
crude to India, Europe, Africa, South America, you want to come
east," he added.