Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Economy & Forex  >  All News

News : Economy & Forex
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 
All NewsEconomyCurrencies / ForexCryptocurrenciesEconomic EventsPress releases

TC Energy to resume work on Keystone XL oil pipeline in February

share with twitter share with LinkedIn share with facebook
share via e-mail
0
01/14/2020 | 08:11pm EST

WINNIPEG, Manitoba (Reuters) - Canadian pipeline company TC Energy Corp said on Tuesday it planned to start pre-construction work in February for its Keystone XL oil pipeline, the start of what it expects to be a busy work schedule for the long-delayed project.

TC said in a filing with U.S. District Court in Montana that in February it would start mobilizing heavy construction equipment in Montana, South Dakota and Nebraska, and aim to begin building a 1.2-mile (1.93 km) segment spanning the U.S.-Canada border in April.

Work on the border-crossing segment is subject to receiving federal approvals, including a right-of-way and temporary use permit, TC said.

The $8 billion Keystone XL project would carry 830,000 barrels per day of oil sands crude from Alberta to the U.S. Midwest and then on to the Gulf Coast. It has been delayed for more than a decade by opposition from landowners, environmental groups and tribes, and after former U.S. President Barack Obama rejected the project.

The State Department has yet to issue a final environmental impact statement. A judge ruled in November 2018 the agency had not conducted an adequate review of the pipeline.

U.S. President Donald Trump in March last year signed a new permission for the pipeline, a move in his administration's pursuit of "energy dominance," or maximizing production of oil, gas and coal for domestic use and exports.

Congested pipelines have resulted in lower Canadian prices and government-ordered production curtailments in the province of Alberta.

"Keystone XL is crucial in building market access for Alberta, ensuring high-quality Canadian oil that can be relied upon throughout North America," Alberta Energy Minister Sonya Savage said in a statement, adding that she is pleased with TC's construction schedule.

TC said it plans to start building pumping stations along the pipeline route in June. Work on a pipeline segment in Nebraska would also start in June, followed by the start of construction of segments in Montana and South Dakota in August.

The schedule hinges on starting to mobilize equipment in February, TC said. Work will continue in 2021.

By Rod Nickel

Stocks mentioned in the article
ChangeLast1st jan.
LME NICKEL CASH -2.62% 12650 End-of-day quote.-10.12%
LONDON BRENT OIL 0.31% 59.1 Delayed Quote.-6.00%
TC ENERGY CORPORATION 0.06% 72.36 Delayed Quote.4.57%
WTI 0.09% 53.01 Delayed Quote.-9.29%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Economy & Forex"
12:17aCoronavirus infects Asia stocks with exposure to China
RE
12:16aNEWS HIGHLIGHTS : Top Financial Services News of the Day
DJ
12:13aFacebook, others restrict business travel to China as warnings grow
RE
12:10aCANADIAN CHAMBER OF COMMERCE : to Ring the Opening Bell at Toronto Stock Exchange
PU
01/27SOUTHEAST ASIA STOCKS : Singapore falls 3% on worries of economic impact from virus
RE
01/27Japan government nominates reflationist-minded economist to join BOJ board
RE
01/27CENTRAL PEOPLE GOVERNMENT OF PEOPLE RE : China to ensure market supply of daily necessities
PU
01/27Oil falls for sixth day as China virus raises global growth, demand concerns
RE
01/27Oil falls for sixth day as China virus raises global growth, demand concerns
RE
01/27NEWS HIGHLIGHTS : Top Global Markets News of the Day
DJ
Latest news "Economy & Forex"