Impact of U.S. court ruling on Keystone XL timing unclear: TransCanada
(Reuters) - TransCanada Corp is reviewing a decision by a Montana judge blocking construction of the Keystone XL pipeline, but the impact on project timing remains unclear, the company’s top crude pipeline executive said.
“We’re going through the decisions, we’re reviewing the deficiencies to determine how best to address the deficiencies,” Paul Miller, President, Liquids Pipelines, said at an Investor Day in Toronto. “At this point it is too soon to determine what impact the ruling will have on our schedule.”
Miller added that the company remains “fully committed” to the $8 billion pipeline, which would carry crude from Alberta to Steele City, Nebraska, where it would connect to refineries in the U.S. Midwest and Gulf Coast, as well as export terminals.
The project, in the works for a decade, was dealt a blow earlier this month when a U.S. judge in Montana blocked construction pending further environmental review.
TransCanada is still expecting a separate ruling from a Nebraska court on routing. The company had expected to start construction on the 1,180 mile (1,900 km) pipeline in 2019.
Shares of TransCanada were down 0.33 percent at C$51.45 in Toronto.
Reporting by Julie Gordon in Vancouver and John Benny in Bengaluru; Editing by Chizu Nomiyama and Grant McCool
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