TransCanada CEO says no firm timeline yet for Keystone XL, Energy East
CALGARY — TransCanada Corp. (TSX:TRP) is still not prepared to offer a firm timeline for the completion of the Keystone XL pipeline, its top executive said on Friday, even after U.S. President Donald Trump granted the project a permit in March.
TransCanada CEO Russ Girling said that both the proposed Keystone XL and Energy East projects, which are fiercely opposed by many environmentalists, sit in the company’s longer-term bucket because of the difficulty of getting them done.
“We’ve been at them for a long time, so it’s hard to say with any credibility that we’re going to get it done by a date,” he told the company’s annual general meeting.
Girling said TransCanada will instead look to its multitude of projects in the $500 million to $1 billion dollar range – which he said are are much easier to permit – to help deliver its projected eight to 10 per cent dividend growth through the rest of the decade.