​TransCanada extending Keystone XL open season following Harvey disruption

Image: TransCanada

TransCanada says it is adding one month to its open season looking for additional shipper commitments on its Keystone system due to "the historic flooding and catastrophic impacts to Houston and parts of the U.S. Gulf Coast."

The company initiated the open season in late July, looking for 225,000 bbls/d of commitments on the controversial proposed Keystone XL project, which would have capacity to ship about 830,000 bbls/d from Hardisty, Alta., to markets in Cushing, Okla., and the U.S. Gulf Coast.

TransCanada has been working to reconfirm shipper interest since U.S. President Donald Trump approved the pipeline in March, reviving a project thought dead after former president Barack Obama rejected it in 2015. The company says it has core support for the project, which continues to work through Nebraska’s regulatory process.

The open season, previously scheduled to close on September 28, has been extended to end on October 26. TransCanada had previously said that final results likely wouldn't be known until November, a timeline which is also likely to be extended with the new open season schedule.