The natural gas pipeline has been proposed by El Paso Corporation and is anticipated to cost approximately $US3 billion. The Loan and Investment Board approval is conditional on the Treasurer’s Office reaching acceptable terms for the investment.
Construction of the 1,086 km Ruby Pipeline is scheduled to commence in early 2010 and come online by March 2011. The pipeline will begin in Opal, Wyoming, before travelling through Utah, Nevada, and ending in Oregon.
The final approval for the pipeline from the Federal Energy Regulatory Commission is expected to be delivered in January 2010.