You’ve heard us say that for our company, nothing is more important than safety when it comes to how we design, build and operate our energy infrastructure system.
Whether it’s the power we provide to customers, the natural gas we supply to millions of homes and businesses or the oil that is delivered to refineries — safety is (and has to be) at the heart of everything we do.
With a current enterprise value of about $58 billion, making smart investments in the health and safety of our assets — our pipelines, power plants and supporting infrastructure — just makes good business sense.
When it comes to Keystone XL Pipeline, TransCanada has worked with U.S. regulators to add additional layers of safety in the form of 57 special conditions — that no other pipeline that exists today will operate to. The State Department’s own environmental impact statement report states that: “Incorporation of the 57 special conditions would result in a (pipeline) project that would have a degree of safety over any other typically constructed domestic oil pipeline system under current code.”
And a growing volume of scientific studies — by organizations sush as the National Academy of Science, Penspen Integrity, Batelle Memorial and Natural Resources Canada — have also concluded that the type of oil we will move through Keystone XL is just the same as other conventional forms of oil.
In 2011, TransCanada invested $800 million in our safety and preventive maintenance programs. In 2012 we invested about $1 billion in these same programs. And in 2013 — we expect to invest more than $1 billion. We have an industry-leading safety record, and when you combine our safety practices, strong safety management systems and programs and the significant investments we make to keep our system running safely and reliably, it shows just how seriously we take this.
Here are some recent blog posts that will provide even greater insight into we do as a company when it comes to safety:
- CEO highlights commitment to safety
- TransCanada ahead of the curve on safety
- TransCanada uses latest proven technology to detect leaks
- Digging into pipeline integrity
As TransCanada’s CEO Russ Girling said in his speech to a National Energy Board safety panel on June 11, 2013: “A well-honed safety culture, in my view, is the only way of making sure everyone in the organization makes the decision based on the same fundamental values and beliefs. This means encouraging people to err on the side of caution — and to make sure these people are supported and rewarded for doing so. We can always make up lost dollars, but we can’t ever repair the damage and devastation of a catastrophic event.”
And while we expect that opponents will continue to attack pipelines, safety, fossil fuels or whatever they come up with, we know that Keystone XL is about helping modernize America’s energy infrastructure. It’s about providing American refineries with safe, secure and reliable supplies of oil — from an ally and trusted neighbour.
And it’s about doing it all with a clear focus on safety — and in this case, raising the bar so that this pipeline will operate safely for many decades to come.
As the Chicago Tribune editorial on July 13, 2013, pointed out: “The numbers are clear. The Keystone XL pipeline will improve safety. It should be approved.”
For TransCanada, having an energy infrastructure network that’s built and operated safely — that’s always our bottom line.