TransCanada re-applies for Keystone XL presidential permit

Image: TransCanada

TransCanada has accepted U.S. president Donald Trump's invitation to re-submit its presidential permit application for the proposed Keystone XL pipeline, filing the application Thursday.

Trump signed executive orders on Jan. 24 seeking to accelerate construction of the project, which former president Barack Obama denied in late 2015.

His instructions also encouraged U.S. regulatory agencies to decide on the application within 60 days, meaning TransCanada could know by the end of March the fate of the pipeline it has been trying to build since 2008.

The $8 billion project would connect 830,000 bbls/d of Alberta crude oil to the U.S. Gulf Coast refining complex, the world's largest market for heavy oil processing.

TransCanada launche a $15-billion NAFTA complaint against the U.S. in 2016 over damages based on the rejection of Keystone XL.

--With files from The Canadian Press