On March 24, 2017 the U.S. State Department issued the Presidential Permit for the Keystone XL project, marking a significant milestone for the project.
“This is a significant milestone for the Keystone XL project. We greatly appreciate President Trump’s Administration for reviewing and approving this important initiative and we look forward to working with them as we continue to invest in and strengthen North America’s energy infrastructure.”
– Russ Girling, President and CEO, TransCanada
Keystone XL is an important piece of TransCanada’s comprehensive U.S growth portfolio driving an investment of more than US$15 billion in liquid and natural gas projects that will create thousands of well-paying jobs and generate substantial economic benefits across the U.S.
In addition, TransCanada has discontinued its claim under Chapter 11 of the North American Free Trade Agreement (NAFTA) and will end its U.S. Constitutional challenge.
What does Keystone XL mean for North America?
In addition to ensuring a secure and reliable source of energy for North America, Keystone XL will strengthen America’s energy infrastructure, transporting oil in a safe and environmentally sound manner.
Since the original Keystone Pipeline began operating in 2010, it has safely delivered more than 1.4 billion barrels of oil to refineries in the U.S. Gulf Coast.
The construction of the pipeline will also generate substantial economic benefits throughout the U.S. including:
- Job Creation: Significant, well-paying job creation plus follow-on direct and indirect job growth fueled by private capital investment.
- Local Economic Benefit: Substantial economic benefit to local communities and the U.S. GDP.
- Investing in U.S. Infrastructure: Strengthening America’s energy infrastructure and increasing energy security.
Next steps for the project
With the Presidential Permit, TransCanada will continue to work through the Nebraska Public Service Commission process for approval of the Keystone XL pipeline route through the state which is expected to conclude in 2017. TransCanada will also continue to engage key stakeholders throughout Nebraska, Montana and South Dakota to obtain the necessary permits and approvals to advance Keystone XL to construction.
Watch Russ Girling, President and CEO’s reaction to the receipt of the Presidential Permit:
For more information on the project, visit Keystone-XL.com.