Mark Szakonyi, Associate Editor | Mar 08, 2012 11:50AM EST
Canadian Pacific Railway said it would further tap the Bakken crude oil boom this summer by opening a North Dakota hub initially capable of handling 35,000 barrels daily.
The Van Hook, N.D., facility, which will be developed by U.S. Development Group, would allow for the assembly of 15 to 17 crude unit trains monthly for shipment throughout North America. Once fully developed, the terminal would be able to handle 30 unit trains per month.
“By taking advantage of our network to the Northeast U.S. and through our Kansas City gateway to the U.S. Gulf Coast, Canadian Pacific is able to partner with the energy industry to facilitate further growth in moving oil and energy-related materials,” said Jane O’Hagan, CP executive vice president and chief marketing officer.
CP will be the only railroad to serve the hub, which will handle the loading of crude via onsite tankage from truck or pipeline to railcar. CP is also the only railroad to service the BakkenFormation, the Alberta Industrial Heartland and the Marcellus Shale.
Contact Mark Szakonyi at mszakonyi@joc.com. Follow him on Twitter @Szakonyi_JOC.