Duke, Dominion End ACP Project: Midstream Operators at Risk? (Revised)
Zacks Investment Research | Jul 07, 2020 04:00AM ET
U.S. power suppliers — Duke Energy TRP Keystone XL crude oil pipeline from the oil sands region of Canada to the United States.
However the ruling is now going to affect oil and gas pipeline proposals across the nation. In the absence of the nationwide permit, companies will have to apply for numerous individual construction permits on lines that sometimes cross hundreds of water bodies. Per Paul Afonso, chief legal officer of the American Petroleum Institute, this may cause delays of a year or more for more than 70 pending pipelines, increasing their combined costs by $2 billion.
So unless there comes a reversal of this ruling, with the COVID-19 impact expected to hover around the global economy for the time being, the chances of the U.S. midstream operators to take a rebound remain slim.
(We are reissuing this article to correct a mistake. The original article, issued on July 6, 2020, should no longer be relied upon.)
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