Delays, increased costs for Keystone XL pipeline

The start of construction on the Keystone XL pipeline for the transportation of Canadian bitumen from the Alberta tar sands into the U.S. has been delayed until late 2015, Ship & Bunker reports.

TransCanada Corp., the company handling the pipeline, said operations were originally scheduled to begin in late 2014 or early 2015, subject to U.S. approval, but it is still waiting on a decision by U.S. President Barack Obama's administration.

"Maintaining a project through this kind of delay is not inexpensive," said TransCanada CEO Russ Girling.

The company has invested $1.8 billion out of a total cost of between $5.3 billion and $5.4 billion so far.

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