ON 30 JANUARY, TransCanada Corporation announced the start of a binding 'open season' for an expansion and extension of the proposed Keystone oil pipeline. The purpose of the open season is to obtain binding commitments to support the expansion of the proposed Keystone pipeline from a nominal capacity of approximately 435,000brl/d to 590,000brl/d and the construction of a 468-km extension of the US portion of the pipeline from the Nebraska/Kansas border to the refining and terminal hub near Cushing, Oklahoma. The US$700-million expansion and extension project is targeted to be in-service in the fourth quarter of 2010. The Keystone pipeline is a proposed 2,965-km pipeline with a nominal capacity to transport approximately 435,000brl/d of crude oil from Hardisty, Alberta, to US Midwest markets at Wood River and Patoka, Illinois. It is an innovative and cost-competitive proposal to transport a significant amount of new Canadian crude oil to key U.S. markets commencing in late 2009. The project is underpinned by long-term transportation commitments from producers totalling 340,000brl/d with an average contract duration of 18 years as a result of a previous binding open season process. During the open season period, which will expire at noon on 14 March, interested parties may submit binding bids for firm capacity transportation of crude oil from Hardisty to Cushing or to Wood River and Patoka. The Keystone website (www. transcanada. com/keystone) provides additional information about the Keystone pipeline and the open season.