Canada's energy minister remains bullish on Keystone XL

Jul. 26, 2020 

• Ottawa is "intent on getting it done," Canada's Natural Resources Minister Seamus O'Regan declared, vowing to get TC Energy's (NYSE:TRP) Keystone XL pipeline across the finish line.
• That's despite the prospect of an incoming Biden administration that has promised to kill the project, as well as multiple court challenges south of the border.
• Keystone XL would ship 830K barrels of crude a day to Steele City, Nebraska, from Hardisty, Alberta, giving Canadian oil companies a new route to refineries on the U.S. Gulf Coast.
• Under pressure from Alberta, O'Regan said he's working on communication with U.S. Secretary of Energy Dan Brouillette. He's also pushing for movement on the Line 3 replacement pipeline project between Canada and the U.S., which is awaiting final permitting before construction can begin in Minnesota.
• New projects are is expected to allow TC Energy to "grow its forward annual dividend by more than the 7% compound annual growth rate that it has historically been able to," writes Power Hedge in a SA article, TC Energy: Growth Prospects Even Today.