RE:RE:TMX Contract in Face of Keystone Cancellation It's certainly a risk but I do still feel confident about Spread 5b for Macro due to the technical nature.
The other spreads are a question mark and I had hoped we would have seen a timeline indication for contractor selection.
I also wonder if the CGL Rental Fleet was locked in, as I imagine equipment rental rates will be down.
NGTL will also be starting up, but COVID could push all of these projects back a few months and then spring breakup may be another factor for delays.
Despite all of this, the KXL decision ultimately supports Canada being more independent on its export capabilities for oil and gas. I would be curious to hear how others think consolidation in the mid and large cap EP's will impact future pipeline growth (positively, negatively, or not at all).
Hope everyone is doing well and is healthy!
LR