As Keystone struggles, TransCanada pushes new Energy East terminal
By Mike De Souza and Nia Williams
CALGARY (Reuters) - TransCanada Corp (TRP.TO: Quote) is pushing ahead to develop Energy East, an all-Canadian alternative pipeline project to its struggling U.S. Keystone XL pipeline, and will soon reveal the location of a new export terminal.
The Calgary-based company said on Tuesday it was "very close" to announcing an alternate location for the crude export terminal after canceling plans for a Quebec port due to environmental concerns.
TransCanada's chief executive officer said the company was preparing to work with Canada's new Liberal government on Energy East as it reviews the country's regulatory regime.
The comments came a day after TransCanada asked the U.S. government to delay its decision on the controversial Keystone project, a move seen pre-empting a possible rejection by U.S. President Barack Obama.
The White House said on Tuesday it would be "unusual" to pause the U.S. government's years-long review process of the pipeline. Spokesman Josh Earnest said the State Department was trying "to determine exactly what the request is, and what is motivating that request."
CEO Russ Girling told a conference call the company was trying not to get involved in the politics of the Keystone XL review, but needed time to work through the Nebraska review.
"We've worked very hard for seven years to try to keep our head down and work our way through every twist and turn and every additional request through the regulatory process," said Girling. "There are things that we can control, there are things we can't control and obviously. We're focused on those that we can."
The nearly 1,200-mile (2,000-km) Keystone would carry 830,000 barrels a day of mostly Canadian oil sands crude to Nebraska en route to refineries and ports along the U.S. Gulf Coast. Continued...