While TransCanada Corp. continues to weigh whether to build its long-delayed Keystone XL oil pipeline, the company announced another major expansion of its natural gas system in Alberta.
TransCanada will spend C$2.4 billion ($1.9 billion) to expand its NGTL System, adding 1 billion cubic feet of daily shipping capacity, according to a statement Thursday. The company struck binding agreements with shippers that start in November 2020 and April 2021, with an average contract term of almost 29 years.
The expansion shows TransCanada isn’t sitting still while it considers whether to move ahead with Keystone XL. The company has been proceeding with preliminary work on the $8 billion, 1,200-mile (1,930-kilometer) project, but hasn’t officially announced a decision to build it. Activists haven’t given up trying to block it, with opposition groups filing a motion to invalidate a key permit last week. TransCanada made no significant new announcements about Keystone XL in its fourth-quarter earnings report on Thursday.
Even without Keystone XL, the company’s oil transport business posted…
RittaFarr
When has anything dealing with the Keystone XL not been in limbo. Does it even make sense to build today?