Keystone XL pipeline route change is not major issue – TransCanada CEO

TransCanada Corp does not see a route change for the proposed Keystone XL oil pipeline to Nebraska as a major issue, and the company is confident that a key regulatory approval will stand, Chief Executive Russ Girling said on Thursday.Analyzing the November approval by Nebraska Public Service Commission was an important factor in TransCanada’s deliberations on a final investment decision on whether to build the $8 billion pipeline from Hardisty, Alberta to Steele City, Nebraska, Girling said at a CIBC investor conference in Whistler, British Columbia.

The company now believes the ruling, which opponents are appealing, is “solid,” Girling said. TransCanada still has not made a final investment decision.

The Nebraska commission approved the pipeline, but not TransCanada’s preferred path. The new, approved route will add $100 million to $200 million in cost, Girling said. He did not specify the currency and a spokesman could not be immediately reached.

Girling added that TransCanada was advancing the project by acquiring more land.

(Reporting by Rod Nickel in Winnipeg, Manitoba; Editing by Grant McCool and Susan Thomas)