The Keystone XL oil pipeline project, announced 12 years ago to move Canadian crude from Alberta to Nebraska, has already been well under construction in Canada.
Canadian company also reported that it missed its estimates for its quarterly profit.
Concern about how U.S. President Joe Biden’s administration will handle the Dakota Access Pipeline (DAPL), which can transport more than 550,000 bbl/d out of the Bakken, is boosting prices.
Ottawa shifts to clean energy export effort following cancellation of the KXL pipeline.
In a letter to fellow Democrat Joe Biden, Sen. Joe Manchin said that even without the Keystone XL pipeline, the oil would still find its way to the U.S. by rail and truck.
The proposed $5.9 billion pipeline would run roughly 500 miles (800 km) and could start delivering natural gas into central Alaska in 2025, according to a report.
PennEast wants the land to build the pipeline, which is designed to deliver 1.1 Bcf/d of gas—enough to supply about 5 million homes—from the Marcellus Shale formation in Pennsylvania.
Two Permian pipelines are on track to come online in 2021.