TransCanada has concluded the Keystone XL open season, in which it secured nearly 500,000 barrels per day of firm commitments for 20 years that will enable the advancement of the proposed project.
In November last year, Nebraska Public Service Commission approved the Keystone XL route to run through the state after carrying out a comprehensive review of the evidence submitted by all associated parties in the hearing process.
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TransCanada president and CEO Russ Girling said: “Over the past 12 months, the Keystone XL project has achieved several milestones that move us significantly closer to constructing this critical energy infrastructure for North America.”
The company noted that it will continue to secure additional long-term contracted volumes.
It has been outreaching to all the associated communities where the pipeline will be built and is working collaboratively with the concerned landowners to procure necessary approval and easements to construct the pipeline.
Initial preparations to construct the pipeline have already started and are expected to accelerate as the permitting process advances throughout this year.
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By GlobalDataPrimary construction of the project is expected to begin next year.
The proposed Keystone XL Pipeline will run from Hardisty in Alberta, Canada, to Steele City in Nebraska, US and will enable a safe way to crude oil to different markets in the US.
It is expected to give a boost to the local tax revenues, create jobs, and support the development of building local infrastructure.
