Backed up with $1.1 billion in funding from the Alberta provincial government, TC Energy Corp. said it was moving forward with the construction of the $8 billion Keystone XL Pipeline that will run from Canada south through three states.
The 1,210-miles pipeline will run from Hardisty, Alberta to Steele City, NE with a high volume 830,000 BOPD and is expected to come on line in 2023.
“During construction, we will continue to take guidance from all levels of government and health authorities to determine the most proactive and responsible actions in order to ensure the safety of our crews and community members during the current COVID-19 situation,” said TC Energy’s President and Chief Executive Officer Russ Girling. “Construction will advance only after every consideration for the health and safety of our people, their families and of those in the surrounding communities has been taken into account.”
The Company’s capital investment will be funded through a combination of internally generated cash flow, hybrid securities and common equity through the activation of its dividend reinvestment program in 2021 and 2022.
Six comprehensive scientific environmental reviews were conducted by the State Dept. in the last decade.
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