NEWS
01/25/2018 10:25 EST | Updated 01/25/2018 10:40 EST

TransCanada CEO hopeful on LNG, moving forward cautiously on Keystone XL

CALGARY — The head of TransCanada Corp. says he's still optimistic on Canada's liquefied natural gas export prospects and that the company is proceeding very carefully on their controversial Keystone XL pipeline.

Speaking at an investment conference in Whistler, Russ Girling says the company sees an emerging window of demand opportunity in 2022 for the Shell-backed LNG Canada project to go forward and expects to hear a decision in the next 12 months or so.

On the company's Keystone XL project, Girling says TransCanada has looked carefully at how the alternative route for the pipeline was approved in Nebraska and is now confident in the legality of the decision, but is still proceeding cautiously on spending.

His comments come as opponents of the pipeline say they're looking challenge the legitimacy of the approval because it wasn't for the preferred route TransCanada had originally applied for.

Girling says the alternate route isn't a challenge technically and the extra few miles in length will add about $100 million to $200 million to the project cost.

As to TransCanada's cancelled Energy East pipeline, Girling says the project was too complex and difficult compared with its other projects and so made the hard decision to end it.

 

Companies in this story: (TSX:TRP)

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