Keystone XL pipe has adequate commercial support: TransCanada

November 9, 2017

TransCanada Corp has received adequate support from crude oil shippers on its long-delayed Keystone XL pipeline, but the parties still need to work out specific terms, the company said on Thursday as it reported a rise in quarterly earnings.

The pipeline, which would carry 830,000 barrels per day of Canadian crude to U.S. refineries, has been delayed for more than eight years by regulatory hurdles as North American energy projects face increasing opposition from environmentalists.

A period for gauging interest from shippers ended in late October. While Canadian Natural Resources Ltd, one of the country's largest producers, said last week it has increased its commitment, there was concern among industry participants that other producers may no longer be as keen as oil sands growth slows.

TransCanada's liquids pipelines President Paul Miller said on a conference call the company has obtained the desired volume commitment of about 500,000 barrels per day.

Read more on Reuters...

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