• 5 minutes 'No - Deal Brexit' vs 'Operation Fear' Globalist Pushback ... Impact to World Economies and Oil
  • 8 minutes China has *Already* Lost the Trade War. Meantime, the U.S. Might Sanction China’s Largest Oil Company
  • 12 minutes Will Uncle Sam Step Up and Cut Production
  • 2 hours A legitimate Request: France Wants Progress In Ukraine Before Russia Returns To G7
  • 9 hours Danish Royal Palace ‘Surprised’ By Trump Canceling Trip
  • 10 hours Recession Jitters Are Rising. Is There Reason To Worry?
  • 36 mins Used Thin Film Solar Panels at 15 Cents per Watt
  • 4 hours IS ANOTHER MIDDLE EAST WAR REQUIRED TO BOLSTER THE OIL PRICE
  • 1 hour China has invested btw $30 - $40 Billon in Canadian Oil Sands. Trump should put 10% tariffs on all Chinese oil exported into or thru U.S. in which Chinese companies have invested .
  • 16 hours Wonders of US Shale: US Shale Benefits: The U.S. leads global petroleum and natural gas production with record growth in 2018
  • 2 hours Strait Of Hormuz As a Breakpoint: Germany Not Taking Part In U.S. Naval Mission
  • 23 mins US to Drown the World in Oil
  • 16 hours US Shale Economic Impact: GDP gain realized in shale boom’s first 10 years
  • 16 hours TRUMP'S FORMER 'CHRISTIAN LIAISON' SAYS DEEPWATER HORIZON DISASTER WAS GOD'S PUNISHMENT FOR OBAMA ISRAEL DIVISION
  • 15 hours Domino Effect: Rashida Tlaib Rejects Israel's Offer For 'Humanitarian' Visit To West Bank
  • 2 hours LA Solar Power/Storage Contract
  • 14 hours NATGAS, LNG, Technology, benefits etc , cleaner global energy fuel
  • 1 hour Iran Is Winning Big In The Middle East
Shale Bleeds Cash Despite Best Quarter In Years

Shale Bleeds Cash Despite Best Quarter In Years

The second quarter earnings results…

TransCanada Wants Alberta To Commit To Keystone XL Capacity

Pipeline

TransCanada is urging the government of Alberta to buy capacity for its proposed Keystone XL pipeline in a ‘take or pay’ agreement similar to the one the province had pledged for the now-defunct Energy East pipeline, Bloomberg reported on Thursday, citing people familiar with the issue.

Alberta had committed to a 20-year take or pay transportation service agreement with TransCanada’s proposed Energy East pipeline.

However, in early October, TransCanada said that it would not be proceeding with Energy East designed to carry oil from Alberta and Saskatchewan to Canada’s East Coast, a month after the company had sought a 30-day suspension of the project applications to review changed regulatory circumstances.

Alberta had supported that pipeline plan, and Premier Rachel Notley said “We are deeply disappointed by the recent decision from TransCanada,” following the scrapping of the project.

Now, according to Bloomberg sources, TransCanada’s urge for Alberta to commit to capacity for Keystone XL is putting Premier Notley in a difficult situation, because not fully supporting a pipeline in Canada’s largest oil province would not be a good political move, but supporting TransCanada’s project has placed her under pressure from rival company Enbridge.

According to former Progressive Conservative lawmaker, Ken Hughes, Alberta had strategic reasons to back the dead Energy East project because of the access to the Atlantic coast refineries, while support for Keystone would be a totally different thing.

Related: OPEC vs. U.S. Shale: The Battle For Asian Market Share

“It had a wide range of benefits, and none of those benefits come about with Keystone,” Hughes told Bloomberg comparing Energy with Keystone.

TransCanada completed last week the “open season” to solicit binding commitments from shippers for Keystone XL—a proposed crude oil pipeline beginning in Hardisty, Alberta, and extending south to Steele City, Nebraska. During the open season, launched at the end of July 2017, TransCanada solicited additional binding commitments from interested parties for transportation of crude oil on the Keystone Pipeline and for the Keystone XL Pipeline Project from Hardisty, Alberta to markets in Cushing, Oklahoma, and the U.S. Gulf Coast.

Keystone XL hinges on TransCanada’s review of the open season bids, and a final decision by Nebraska whether to allow construction, expected no later than November 23.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play