TransCanada asks US to suspend Keystone XL pipeline review –

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TransCanada asks US to suspend Keystone XL pipeline review –

by ahnationtalk on November 5, 2015222 Views

November 3, 2015

In an unexpected move, TransCanada Corp’s (TSX, NYSE:TRP), the company behind the controversial Keystone XL pipeline, has asked the U.S. government to suspend its permit application, which would leave the project in limbo likely beyond the 2016 U.S. elections.

In a letter made public late Monday, the Calgary-based firm asked Secretary of State John to halt the assessment of the $8 billion project, arguing it would allow the department to await the final results of a separate review in Nebraska.

The request, analysts believe, can be seen as an effort to save the project from Obama’s anticipated rejection.

“If you think you’re going to get a ‘no,’ it may be better to wait,” said Kevin Book, managing director at energy policy advisory Clearview Energy Partners in Washington, according to Bloomberg. “The surprise is that it’s the sponsor itself that seems to be pushing for the delay, rather than the administration seeking to avoid a politically difficult decision.”

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