API applauds TC Energy announcement to start construction on Keystone XL Pipeline
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WASHINGTON, March 31, 2020 – API issued the following statement regarding TC Energy’s announcement earlier today about their decision to move forward with construction of the Keystone XL Pipeline.
“Today’s announcement from TC Energy that they are moving forward with the construction of the Keystone XL pipeline is important and represents significant progress for North American energy security,” API President and CEO Mike Sommers said. “This project has been studied for well over a decade, and will bring billions of dollars in investment to the American economy as well as thousands of high-paying jobs. Even during this challenging and unprecedented time, our industry is leading the way and showing just why we are and will continue to be the backbone of our economy.”
The project will bring $8 billion of investment in the North American economy and will be capable of delivering 830,000 barrels per day (bpd) of crude oil over 1,200 miles from Alberta, Canada to Steele City, Nebraska. In Nebraska it will connect with TC Energy’s existing pipeline network to deliver the product to Gulf Coast refineries.
API represents all segments of America’s oil and natural gas industry. Its more than 600 members produce, process, and distribute most of the nation’s energy. The industry supports 10.9 million U.S. jobs and is backed by a growing grassroots movement of millions of Americans. API was formed in 1919 as a standards-setting organization. In its first 100 years, API has developed more than 700 standards to enhance operational and environmental safety, efficiency and sustainability.