WHISTLER, B.C. –The CEO of TransCanada Corp. says the company will be talking with shippers to determine if they still support the Keystone XL pipeline project after it was given a new lease on life by U.S. President Donald Trump earlier this week.
Russ Girling said he thinks the economic case for it can still be made, reports the Financial Post.
“I believe this still makes sense but we haven’t engaged in direct conversation (with shippers) on that issue,” he said during a webcast presentation from a CIBC Capital Markets investor conference in Whistler, B.C. on Wednesday.
“I can tell you this wasn’t in our planning horizon in the middle of last year so we’ve only just re-engaged with our shippers again.”
Access to the “biggest heavy oil refining market in the world in the U.S. Gulf Coast” is expected to remain attractive for TransCanada’s customers.
The $8-billion Keystone XL project would move oil 1,900 kilometres through a 36-inch-diameter crude oil pipeline beginning in Hardisty, Alta., and extending south to Steele City, Neb., where it would link with other lines already leading to refineries along the Gulf Coast.
TransCanada said in a statement on Tuesday it was preparing its application for a presidential permit after Trump endorsed the project.