TC Energy Announces Start of Keystone XL Pipeline
On March 31, 2020, TC Energy announced the details regarding the long-delayed Keystone XL pipeline (KXL), an $8.0 billion investment into the North American economy. Backed by the tremendous financial commitment from the Alberta government, this project now moves forward for the benefit of the province and all Canadians. The 1,947-km (1,210 mile) project has the capability of safely delivering 830,000 barrels per day of crude oil, travelling from Hardisty, AB to Steele City, Nebraska, eventually connecting TC Energy’s existing facilities to reach U.S. Gulf Coast refiners.
Once operational, KXL will provide a much needed additional source of export capacity for Western Canadian crude oil. “We are pleased to see this project move forward as pipelines are safer and more environmentally-friendly than rail. The KXL pipeline is a big step in reducing crude shipments by railcar”, stated the Pipe Line Contractors Association of Canada Executive Director, Wayne Hodgins.
KXL delivers many local and national economic benefits. Natural Resources Minister Seamus O’Regan noted, “This is good news for our oil and gas industry. It comes at a time when the industry needs it. It means thousands of good, well-paying jobs for the highly skilled workers in the industry needs now and into the future.” In total, KXL will create approximately 2,800 Canadian jobs, generating $1.6 billion in Canadian earnings. Construction on the 526-km (327 mile) of new pipeline for the Canadian section is expected to begin in mid-2020.
Read more:
https://www.tcenergy.com/operations/oil-and-liquids/keystone-xl/
https://www.cbc.ca/news/business/analysis-alberta-invests-in-keystone-1.5516144