TransCanada launches southern portion of Keystone XL

A push for the pipeline

CALGARY – TransCanada Corp. (TSX:TRP) says it will brief members of the media today about the official startup of crude oil shipments on the southern portion of its controversial Keystone XL pipeline.

The northern portion of the pipeline has been held up by concerns over potential risks to drinking water supplies and climate change.

TransCanada and the Canadian government are awaiting a decision from the U.S. State Department and President Barack Obama, whose approval is required because the northern portion crosses the border.

In the meantime, TransCanada has pushed ahead with construction of Keystone XL’s southern portion, which connects a major oil hub in Oklahoma with refineries in Texas.

TransCanada had announced last month that Jan. 22 would mark the startup of deliveries to the Gulf of Mexico region and said Wednesday it will now be focusing on getting permits for the rest.

TransCanada officials including its president and CEO, Russ Girling, will provide an update on the official launch from company headquarters, starting at 10 a.m. Mountain time (noon Eastern time).

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