May 8, 2017 Read More →

Keystone Exec See Less Demand for Long-Delayed Project

SNL:

Even with the presidential permit he worked almost eight years to secure in hand, TransCanada Corp. CEO Russ Girling said his company’s Keystone XL pipeline still has to clear a number of hurdles before it becomes a reality.

Routing the line through Nebraska and renewing shipper support are just two potential pitfalls for the line, Girling said at the company’s annual meeting of shareholders.

Keystone XL, a 1,900-kilometer conduit that would link Canada’s oil sands region with a pipeline hub in Nebraska, was proposed before the late-2014 slump that saw crude prices plummet by more than half. That shift has changed the perspective of some of the original shippers who committed to the line.

“There’s a lot of factors that are in the minds of the group of producers that have historically been very supportive of Keystone,” Girling said. “Their balance sheets aren’t as strong as they used to be say three or four years ago.”

Even with the potential pitfalls, Girling said he remains optimistic that the company will be in a position to proceed with Keystone XL by the end of the year.

($) Keystone XL still not a done deal, TransCanada CEO says

Comments are closed.