TC Energy moving forward with Keystone XL pipeline
TC Energy has announced it is moving forward with construction of the Keystone XL pipeline, even as a legal suit by environmental and tribal groups seeking to stop the pipeline continues. The company said in a media release that it has 20-year transportation service agreements for the pipeline that total 575,000 barrels per day with what it described as strong, credit-worthy counterparties expected to generate about $1.3 billion in earnings before interest, taxes, depreciation and amortization on an annual basis. Once Keystone XL is operational, an existing contract for 115,000 barrels per day from Hardisty to the Gulf Coast on