Oil flows on TC Energy's Keystone pipeline will not change after the U.S. pipeline regulator said it would require the company to reduce pressure following a 13,000-barrel oil spill in Kansas in December, Chief Executive François Poirier told Reuters on Thursday.
Poirier said the Canadian company has not changed its estimate of $480 million in costs related to the incident.TC Energy has a $34 billion backlog of projects for the next few years, Poirier said, adding most of those projects are natural gas.
"In 2022, we put $6 billion of infrastructure into service," Poirier said. "In 2023, it's nearly the same amount, so that is the best proof that you can actually sanction and build infrastructure in North America." TC Energy has also had issues with labor availability. Canada's construction labor market typically is between 8,000 to 10,000 workers, but right now there are almost 20,000 workers in Canada to help build out various energy projects, Poirier said.
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