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TransCanada concludes open season for Keystone XL project, confirms support

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CALGARY — TransCanada Corp. says it has confirmed strong commercial support for its controversial Keystone XL pipeline.

The company says it has concluded an open season for the pipeline project with roughly 500,000 barrels per day of firm, 20-year commitments.

TransCanada says interest in the project remains strong and it will look to continue to secure additional long-term contracted volumes.

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In November, Nebraska regulators approved a route for the pipeline though the state, but not the company’s preferred choice, instead shifting the path away from sensitive ecological areas.

TransCanada (TSX:TRP) says it’s working with landowners to obtain the necessary agreements for the approved route.

It says construction preparation has started and will increase as the permitting process advances throughout this year, with primary construction expected to begin in 2019.

The Canadian Press

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