Canada's National Energy Board (NEB) has approved an application from TransCanada Corporation to construct and operate the Keystone XL Pipeline Project, an expansion of its Keystone pipeline to the US Gulf Coast. The $1.7 billion project will transport crude oil from Hardisty, Alberta to the Canada/US border at Monchy, Saskatchewan. The NEB said Keystone will be the first pipeline to directly connect Canadian crude oil to the largest refining market in North America. The Keystone pipeline currently stretches from Hardisty to refining hubs in Illinois.