• Sign up for the Daily Digest E-mail
  • Facebook
  • Twitter
  • LinkedIn

BOE Report

Sign up
  • Home
  • BOE Intel
  • Headlines
    • Latest Headlines
    • Featured Companies
    • Columns
    • Discussions
  • Well Activity
    • Well Licences
    • Well Activity Map
  • Property Listings
  • Land Sales
  • M&A Activity
    • M&A Database
    • AER Transfers
  • Markets
  • Rig Counts/Data
    • CAOEC Rig Count
    • Baker Hughes Rig Count
    • USA Rig Count
    • Data
      • Canada Oil Market Data
      • Canada NG Market Data
      • USA Market Data
      • Data Downloads
  • Jobs

TC Energy invites bids for Keystone pipeline space as plans advance for Keystone XL

January 6, 20219:39 AM The Canadian Press0 Comments

Cancelled Keystone XL pipeline
Canceled Keystone XL pipeline extension being laid

CALGARY – The Calgary company building the Keystone XL pipeline is inviting oil shippers to bid for capacity expected to be made available when it opens in about two years despite a vow by the incoming U.S. president to halt the project.

TC Energy spokesman Terry Cunha says about 80,000 barrels a day of capacity on the existing base Keystone export pipeline system is expected to be freed up when barrels are moved to the expansion pipeline after it is completed.

He says those moves are written into contracts the company has with its oil shipping customers, adding he couldn’t say how many shippers plan to switch volumes to the new pipeline.

The launch of the “open season” to seek binding commitments is being made despite a campaign promise made last spring by incoming U.S. president Joe Biden to rip up Keystone XL’s vital presidential permit. He’s expected to take office on Jan. 20.

TC Energy has forged ahead with construction, however, since announcing its decision to proceed last March after the Alberta government agreed to invest about US$1.1 billion (C$1.5 billion) as equity and guarantee a US$4.2-billion project loan.

In November, Bevin Wirzba, president of liquids pipelines for TC Energy, said the project’s creation of union jobs and support by Indigenous investors would help convince Biden that Keystone XL fits into his “Build Back Better” agenda.

“We’re very confident in our project and we’re continuing to proceed with our planned activities to be in service in 2023,” said Cunha.

“This open season is just really a reflection of today’s market and trying to sign up those contracts as some of our capacity shifts to Keystone XL.”

Keystone XL is designed to add 830,000 bpd of oil export capacity from Alberta to Nebraska and is fully contracted. The existing Keystone system has capacity to move about 590,000 bpd from Alberta to refining markets in the U.S. Midwest and Gulf Coast. 29dk2902l

Keystone XL TC Energy

Follow BOE Report
  • Facebook
  • Twitter
  • LinkedIn

Sign up for the BOE Report Daily Digest E-mail

Successfully subscribed

Latest Headlines
  • US natgas slips to 1-month low on ample storage as weather moderates
  • Oil rises for second day as banking fears ease for now
  • Column: Who is brave enough to enter the oil patch these days? A salute to the few, courageous and needed
  • Controlling Manageable Risks in Pipeline Projects
  • How Corrigal Consulting completed their client’s Accelerated Site Closure project on time and on budget

Return to Home
Alberta GasMonthly Avg.
CAD/GJ
Market Data by TradingView

    Report Error







    Note: The page you are currently on will be sent with your report. If this report is about a different page, please specify.

    About
    • About BOEReport.com
    • In the News
    • Terms of Use
    • Privacy Policy
    • Editorial Policy
    Resources
    • App
    • Widgets
    • Notifications
    • Daily Digest E-mail
    Get In Touch
    • Advertise
    • Post a Job
    • Contribute
    • Contact
    • Report Error
    Featured In
    • CamTrader
    • Rigger Talk
    Data Partner
    BOE Network
    © 2023 Stack Technologies Ltd.