Keystone XL has sufficient customer demand to build, developer says
TransCanada Corp. announced Thursday it has received enough customer interest to continue with the construction of the Keystone XL oil pipeline.
The company announced they secured about 500,000 barrels per day of 20-year commitments from customers, a strong vote of confidence that will allow them to proceed with the proposed project. {mosads}
“Over the past 12 months, the Keystone XL project has achieved several milestones that move us significantly closer to constructing this critical energy infrastructure for North America,” Russ Girling, TransCanada’s president and chief executive officer, said in a statement.
TransCanada was previously unsure whether it would continue with its plan to build the Keystone XL pipeline due to concern about lacking customer interest in the oil. But the yearlong study rendered the fear obsolete.
In November, the Nebraska Public Service Commission voted to approve the Keystone XL route through the state, lifting the last big regulatory obstacle for the pipeline.
The Keystone XL pipeline was approved by President Trump in March, a major policy reversal from former President Obama who rejected the construction of the pipeline in 2015.
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