TransCanada to make final preference on Keystone XL by December
​TransCanada, Canada’s second biggest pipeline operator, will make a final investment preference on a Keystone XL plan by December, a association pronounced on Friday as it reported a better-than-expected profit.
The Dec timeline is a initial time a association has publicly set a deadline about creation an investment preference for a plan given U.S. President Donald Trump authorized Keystone XL in March, reversing a preference by Barack Obama.
The investment preference will be formed on shipper direct and a regulatory outcome from a U.S. state of Nebraska, by that a plan passes, Paul Miller, executive vice-president and boss of glass tube during TransCanada, pronounced in a discussion call after a recover of quarterly results.
“Our comment of these factors will unequivocally expostulate a investment preference when we get into that November-December time frame,” he said.
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While TransCanada has “good support” from existent shippers, including those who over after Keystone XL’s 2015 rejection, it is seeking new entrants and wants a “significant” turn of commitment, Miller said, but naming accurate figures.
TransCanada launched an open deteriorate on Thursday for additional commitments for Keystone XL. The enlargement increases a ability of a stream Keystone complement from Canada’s oil-producing Alberta range to a Gulf of Mexico.
Pacific NorthWest project cancelled
TransCanada also pronounced on Friday it will deposit about $160 million Cnd to enhance a ability of a Canadian healthy gas mainline, a pierce that could assistance producers who have been denied an trade track after this week’s termination of a Pacific NorthWest project.
Malaysian state-owned Petroliam Nasional Bhd, or Petronas, announced scrapping of a Pacific NorthWest liquefied healthy gas depot in Canada’s British Columbia range this week, due to vexed commodity prices.
TransCanada, that spent during slightest $500 million to build a tube joining gas wells to a terminal, pronounced it would be reimbursed this year for costs compared with a project.
Profits helped by U.S. pipelines
The company’s increase on Friday were helped by strength in a U.S. healthy gas pipelines and liquids pipelines units.
Revenue from a company’s U.S. healthy gas pipelines section some-more than doubled to $879 million. Its net income attributable to shareholders rose to $881 million, or $1.01 per share, in a second entertain finished Jun 30, compared with $365 million, or 52 cents per share, a year earlier.
On an practiced basis, a association warranted 76 cents per share violence analysts’ guess of 69 cents per share, according to Thomson Reuters I/B/E/S.
Revenue rose scarcely 17 per cent to $3.22 billion.
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Article source: http://www.cbc.ca/news/canada/calgary/transcanadca-expand-mainline-gas-pipeline-1.4226181?cmp=rss