Daniel Acker | Bloomberg | Getty Images
The construction of the Gulf Coast Project pipeline in Atoka, Oklahoma. This 480-mile crude oil pipeline is being constructed by TransCanada and is part of the Keystone Pipeline Project.
TransCanada COO Alex Pourbaix said he is cautiously optimistic about the prospects for the Keystone XL Pipeline and the U.S. pipeline business.
“In terms of the U.S., one of President Trump’s real significant focuses is streamlining regulations,” said Pourbaix, speaking at the CERAWeek, the annual energy conference sponsored by IHS Markit. “So far, so good.”
The controversial Keystone XL Pipeline got a push forward from the Trump administration. Last week, the White House said the Keystone would be exemptedfrom Trump’s new order that all pipelines be built with U.S. steel.
“I think we are cautiously optimistic with respect to Keystone and the projects in the U.S. We are seeing some green shoots of optimism in the pipeline sector,” he said.
The pipeline would take 800,000 barrels a day of oil from Alberta, Canada to Steele City, Nebraska, for shipment to Gulf Coast refineries. “There’s always been a strong supply-and-demand” story for Keystone, Pourbaix said. “We are very confident we will meet all of the expectations of our regulator.”
