TransCanada says it remains committed to making Keystone XL reality

A week after TransCanada said its employees could expect layoffs, the Calgary-based company said staff started to receive notifications Wednesday.

According to TransCanada spokesman Mark Cooper, the company stated that it is incongruous for the Nebraska Public Service Commission to move ahead with the route’s review, while TransCanada considers it next steps. Since submitting that application to the PSC, the U.S. Administration has made the decision to deny the project.

Despite President Obama saying no to the pipeline project, the PSC said they were not yet sure of the federal decision’s impact.

Obama formally rejected the TransCanada application November 6, ending seven years of debate over the controversial project. The company said about 40% of the $2.4 billion spent on the pipeline already is recoverable through the sale of tangible assets if TransCanada writes off the expense.

In the meantime, it has withdrawn its application to get its Nebraska route approved by the state Public Service Commission.

Keystone XL would span 1,179 miles (1,897 kilometers) from Alberta through three states – Montana, North Dakota, and Nebraska – before connecting to an existing pipeline network feeding crude to U.S. Gulf Coast refineries.