Keystone pipeline demand doubles cost
Wed, October 31, 2007
By FREE PRESS NEWS SERVICES
CALGARY -- TransCanada Corp. has more than doubled the estimated cost of its Keystone crude oil pipeline to US$5.2 billion to meet rising demand for the Canada-U.S. project, the company said yesterday while reporting higher third-quarter earnings.
TransCanada reported third-quarter earnings were $324 million, up from $293 million a year earlier on stronger results from both its pipeline and energy segments. TransCanada said it has awarded US$3 billion worth of contracts in the project and will seek National Energy Board approval to boost the line's capacity from 435,000 to 590,000 barrels per day.
http://lfpress.ca/newsstand/Business/2007/10/31/4618834-sun.html
