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TransCanada (TRP) to Finish Southern Portion of Keystone XL by October

By  +Follow October 3, 2013 12:37PM
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TransCanada Corp. (TRP) said on Thursday that the southern portion of its massively unpopular Keystone XL pipeline would be completed by the end of the end of the month, and will begin transporting oil within 30 days.

The Gulf Coast portion of the pipeline will carry oil from Cushing, Oklahoma, the physical delivery location for West Texas Intermediate contracts traded on the NYMEX, to Nederland, Texas.

TransCanada has been working on the Gulf Coast pipeline, which has a projected capacity of over 800,000 barrels per day, for over a year now. The $2.3 billion project constitutes one third of the overall Keystone XL gambit, which has been in limbo since meeting stiff resistance from communities on both sides of the US-Canada border.

Despite TransCanada’s promises of the ostensible jobs that could be created as a result of the pipline’s construction, as well as guarantees about environmental safety, many residents of towns and cities along the northern portion of the Keystone route have concerns about the notoriously dirty tar sands oil that it would transport from Canada all the way down to the Gulf of Mexico for export.

Furthermore, while TransCanada and other supporters of the project have consistently tried to reassure its detractors by claiming that oil prices would drop across the Midwestern US as a result, it is not even clear if the company’s executives actually believe this themselves.

Indeed, it is no secret that one of the main goals of the pipeline is to increase demand for Canadian crude oil, and raise prices high enough to be competitive with Mexican and US crudes that also ship out of the Gulf Coast.

The US portion of Keystone XL has been under review for some six years now, with President Barack Obama having nixed the project last year amid enormous pressure from both supporters and opponents of the pipeline.

While the announcement could be considered somewhat of a victory for the Canadian gas utility, TransCanada admits that any construction in the absence of the full route would be relatively pointless. Company spokesman Les Cherwenuk told Bloomberg that “If something were to occur, then you build a smaller pipeline, but at this point in time, just building Keystone XL based on Bakken contract supplies is not attractive.”

Shares for TransCanada were down 1.35 percent to $43.13 heading in to Thursday’s close.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.


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Results for trp
Energize Minnesota
30 Oct 14 21:05:52
$4.7 billion Coastal GasLink Pipeline passes environmental assessment http://t.co/YCuFkeQ2eI $TRP @PipelineNN
Pinkbeach Lady
30 Oct 14 16:14:32
RT @crazycanuck655: TransCanada Corp.'s submits massive 30,000-page application for Energy East pipeline http://t.co/Uzd4TWqnxT $TRP #energ…
RickLejeune
30 Oct 14 15:40:58
TransCanada Corp.'s submits massive 30,000-page application for Energy East pipeline http://t.co/Uzd4TWqnxT $TRP #energyeast
Marc-Antoine Fleury
30 Oct 14 14:41:25
RT @JeffALewis: TransCanada touts Energy East benefits for refiners, export markets http://t.co/tWBdJdXwMU $TRP
Jeff Lewis
30 Oct 14 14:40:10
TransCanada touts Energy East benefits for refiners, export markets http://t.co/tWBdJdXwMU $TRP
Jameson Berkow
30 Oct 14 12:50:56
Everything you need to know about $TRP Energy East (there's a lot, and much of it will impact YOU directly!) http://t.co/sNT9jVonQT
Tar Sands Solutions
30 Oct 14 12:38:38
RT @TheRealCatAbreu: #TransCanada: "translation of the complete application into French was impracticable" French-speaking Canadians left o…
Doug Alexander
30 Oct 14 12:35:42
TransCanada Applies to Build Energy East Oil Pipeline $TRP http://t.co/unUNsfcwU8 @BBGCanada @rpenty
Monarch Butterfly
30 Oct 14 10:27:57
RT @CouncilofCDNs: Council of Canadians vows to defeat TransCanada's #EnergyEast application to the NEB http://t.co/FTqg5F29k4 $TRP #2riskEE
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30 Oct 14 10:26:21
$TRP - Report of Foreign Issuer (6-k) http://t.co/HFRBPR7WVm
Paul Beckwith
30 Oct 14 10:25:05
RT @CouncilofCDNs: Council of Canadians vows to defeat TransCanada's #EnergyEast application to the NEB http://t.co/FTqg5F29k4 $TRP #2riskEE
DefendOurClimate
30 Oct 14 10:24:14
RT @CouncilofCDNs: Council of Canadians vows to defeat TransCanada's #EnergyEast application to the NEB http://t.co/FTqg5F29k4 $TRP #2riskEE
Red River Rebel
30 Oct 14 09:45:25
RT @TheRealCatAbreu: #TransCanada: "translation of the complete application into French was impracticable" French-speaking Canadians left o…
recuweb.com
30 Oct 14 09:40:08
RT @CouncilofCDNs: Council of Canadians vows to defeat TransCanada's #EnergyEast application to the NEB http://t.co/FTqg5F29k4 $TRP #2riskEE
Deena Baikowitz
30 Oct 14 09:38:09
RT @CouncilofCDNs: Council of Canadians vows to defeat TransCanada's #EnergyEast application to the NEB http://t.co/FTqg5F29k4 $TRP #2riskEE
Lynn Miles
30 Oct 14 09:24:22
RT @CouncilofCDNs: Barred from Transcanada Energy east pipeline presser. Will anyone ask about their 5 pipeline ruptures in the past year? …
Emma Lui
30 Oct 14 09:20:36
RT @CouncilofCDNs: Council of Canadians vows to defeat TransCanada's #EnergyEast application to the NEB http://t.co/FTqg5F29k4 $TRP #2riskEE
Emma Lui
30 Oct 14 09:20:30
RT @CouncilofCDNs: Barred from Transcanada Energy east pipeline presser. Will anyone ask about their 5 pipeline ruptures in the past year? …
Willy
30 Oct 14 09:10:21
RT @CouncilofCDNs: Barred from Transcanada Energy east pipeline presser. Will anyone ask about their 5 pipeline ruptures in the past year? …
onahunttoday
30 Oct 14 09:09:50
RT @CouncilofCDNs: Barred from Transcanada Energy east pipeline presser. Will anyone ask about their 5 pipeline ruptures in the past year? …
Joanna Kerr
30 Oct 14 09:08:20
RT @CouncilofCDNs: Council of Canadians vows to defeat TransCanada's #EnergyEast application to the NEB http://t.co/FTqg5F29k4 $TRP #2riskEE
V. Jobson
30 Oct 14 09:08:15
RT @CouncilofCDNs: Barred from Transcanada Energy east pipeline presser. Will anyone ask about their 5 pipeline ruptures in the past year? …
V. Jobson
30 Oct 14 09:07:58
RT @CouncilofCDNs: Council of Canadians vows to defeat TransCanada's #EnergyEast application to the NEB http://t.co/FTqg5F29k4 $TRP #2riskEE
David  Manderso
30 Oct 14 09:05:53
RT @CouncilofCDNs: Barred from Transcanada Energy east pipeline presser. Will anyone ask about their 5 pipeline ruptures in the past year? …
Lowertown Ottawa
30 Oct 14 09:03:13
RT @CouncilofCDNs: Council of Canadians vows to defeat TransCanada's #EnergyEast application to the NEB http://t.co/FTqg5F29k4 $TRP #2riskEE
lisa knowlton
30 Oct 14 08:53:18
RT @CouncilofCDNs: Council of Canadians vows to defeat TransCanada's #EnergyEast application to the NEB http://t.co/FTqg5F29k4 $TRP #2riskEE
Cam Fenton
30 Oct 14 08:51:51
RT @TheRealCatAbreu: #TransCanada: "translation of the complete application into French was impracticable" French-speaking Canadians left o…
Catherine Abreu
30 Oct 14 08:50:59
#TransCanada: "translation of the complete application into French was impracticable" French-speaking Canadians left out. #EnergyEast $trp
Jeff Lewis
30 Oct 14 08:48:57
RT @DeleverTheFirm: TransCanada CEO Russ Girling: new Energy East pipeline from Canada's oil sands would export 50% of its 1.1 mln bpd capa…
Chester Dawson
30 Oct 14 08:46:57
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Greenpeace Canada
30 Oct 14 08:43:37
RT @CouncilofCDNs: Barred from Transcanada Energy east pipeline presser. Will anyone ask about their 5 pipeline ruptures in the past year? …
Cam Fenton
30 Oct 14 08:38:59
RT @CouncilofCDNs: Barred from Transcanada Energy east pipeline presser. Will anyone ask about their 5 pipeline ruptures in the past year? …
Dean Corda
30 Oct 14 08:34:51
RT @CouncilofCDNs: Barred from Transcanada Energy east pipeline presser. Will anyone ask about their 5 pipeline ruptures in the past year? …
Louie Scagnon
30 Oct 14 08:34:13
RT @CouncilofCDNs: Barred from Transcanada Energy east pipeline presser. Will anyone ask about their 5 pipeline ruptures in the past year? …
Keith Stewart
30 Oct 14 08:26:18
RT @CouncilofCDNs: Barred from Transcanada Energy east pipeline presser. Will anyone ask about their 5 pipeline ruptures in the past year? …
Tar Sands Solutions
30 Oct 14 08:16:48
RT @CouncilofCDNs: Council of Canadians vows to defeat TransCanada's #EnergyEast application to the NEB http://t.co/FTqg5F29k4 $TRP #2riskEE
Kiran Martin
30 Oct 14 08:14:45
RT @CouncilofCDNs: Council of Canadians vows to defeat TransCanada's #EnergyEast application to the NEB http://t.co/FTqg5F29k4 $TRP #2riskEE
Keith Stewart
30 Oct 14 08:13:35
RT @CouncilofCDNs: Council of Canadians vows to defeat TransCanada's #EnergyEast application to the NEB http://t.co/FTqg5F29k4 $TRP #2riskEE
Siocnarf
30 Oct 14 08:12:08
RT @CouncilofCDNs: Council of Canadians vows to defeat TransCanada's #EnergyEast application to the NEB http://t.co/FTqg5F29k4 $TRP #2riskEE
Ecology Ottawa
30 Oct 14 08:10:40
RT @CouncilofCDNs: Council of Canadians vows to defeat TransCanada's #EnergyEast application to the NEB http://t.co/FTqg5F29k4 $TRP #2riskEE
Hilary Gough
30 Oct 14 08:10:38
RT @CouncilofCDNs: Barred from Transcanada Energy east pipeline presser. Will anyone ask about their 5 pipeline ruptures in the past year? …
Ben Powless
30 Oct 14 08:10:32
RT @CouncilofCDNs: Council of Canadians vows to defeat TransCanada's #EnergyEast application to the NEB http://t.co/FTqg5F29k4 $TRP #2riskEE
Council of Canadians
30 Oct 14 08:10:21
Council of Canadians vows to defeat TransCanada's #EnergyEast application to the NEB http://t.co/FTqg5F29k4 $TRP #2riskEE
Lance Livingstone
30 Oct 14 08:03:20
RT @CouncilofCDNs: Barred from Transcanada Energy east pipeline presser. Will anyone ask about their 5 pipeline ruptures in the past year? …
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30 Oct 14 07:44:11
Potential TransCanada $TRP Trade Has 10.56% Downside Protection ( http://t.co/2faT52DUEo )
MINOTAURS
30 Oct 14 07:39:57
RT @CouncilofCDNs: Barred from Transcanada Energy east pipeline presser. Will anyone ask about their 5 pipeline ruptures in the past year? …
barachoix
30 Oct 14 07:39:16
RT @CouncilofCDNs: Barred from Transcanada Energy east pipeline presser. Will anyone ask about their 5 pipeline ruptures in the past year? …
Mik Mann
30 Oct 14 07:37:36
RT @CouncilofCDNs: Barred from Transcanada Energy east pipeline presser. Will anyone ask about their 5 pipeline ruptures in the past year? …
David George-Cosh
30 Oct 14 07:37:28
And here we go, as TransCanada execs now come to the press conference table. $TRP
David George-Cosh
30 Oct 14 07:37:01
Earlier on Thurs., TransCanada announced it had filed an application with Canada’s Nat’l Energy Boar on its $12B pipeline project $TRP
				
				
By  +Follow October 3, 2013 12:37PM
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