TransCanada Corp. doesnt expect a significant shift in
the permitting of cross-border pipelines in the near
"I think all of the
issues that have made (the) Keystone XL (pipeline) contentious
with the opposition would be equally applicable to (other
projects), and I think it would be pretty naive to assume any
... project certainly in the near future would be going through
a significantly lower hurdle in terms of the presidential
permit process," president of energy and oil pipelines Alex
Pourbaix said during the companys third-quarter earnings
call in response to an analyst question about the potential of
two other planned cross-border pipeline expansion projects
receiving presidential permits.
permitting of Keystone XL remains at a standstill.
"The process is as
its been for months. Were waiting for the final
environmental impact statement to be completed and issued,"
president and chief executive officer Russell K. Girling said
during the call.
However, it is only a
matter of time before Keystone is approved, he said. "Really
nothing has changed, in that the U.S. needs crude oil in excess
of its own production and Canada produces oil in excess of its
own consumption; and the marriage of those two things makes
sense historically and makes sense today and it makes sense for
many decades in the future."
that Canadas government intends to develop the
nations oil sands with or without Keystone, something
environmental groups deny.
Alberta-based energy company posted net income of Canadian $481
million ($461.8 million) during the quarter, up 30.4 percent
from the same period last year, on sales that rose 3.7 percent
to C$2.2 billion ($2.11 billion).