Calgary-based TC Energy is back in the headlines this week with two big announcements that make us wish we were a fly in the boardroom when final decisions came down. With natural gas and crude oil systems in Canada, the U.S., and Mexico, TC’s biggest hurdle to date has been the $8 billion expansion of its Keystone Pipeline known as the Keystone XL. This project has languished over 11 years, two administrations, countless protests, and a cloaked signal by the company as late as last month that the project might be completely aborted.
TC Energy Corporation is a major North American energy company, based in Calgary, Alberta, Canada, that develops and operates energy infrastructure in Canada, the United States, and Mexico. The company operates three core businesses: Natural Gas Pipelines, Liquids Pipelines and Energy.
Guess what? Shovel meet dirt.
The 1,661-mile Keystone XL is finally showing proof of life with the first phase of site prep now underway along the line’s route from the Canadian border across Mont., and S.D., into Nebraska. The oilsands pipeline will transport 830,000 BPD for ultimate deliveries to terminals on the Gulf Coast. No word yet on an anticipated completion date but, hey, TC’s waited this long to break ground so let’s keep our fingers crossed and RMR will keep you posted as the project progresses.
The day following the XL news, TC signed a $225 million deal with Calgary-based Tidewater Midstream and Infrastructure to purchase the nearly 81-mile, natural gas Pioneer Pipeline. With an initial capacity of 130 MMCFD, the Pioneer is supported by a 15-year, take-or-pay commitment from TransAlta, Canada’s largest electricity provider. TransAlta is currently transitioning from coal-fired to gas-fired power plants.
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