TransCanada Corp. (TSXT.TRP, Stock Forum) (NYSE:TRP, Stock Forum) responded to the U.S. Department of State's (DOS) announcement Friday that the Keystone XL pipeline will be given a final decision by the U.S. Department of state in Quarter one of 2013.
If it is allowed to proceed, the Keystone XL pipeline will run across 329 miles in Canada from Hardisty, Alberta to Monchy, Saskatchewan and 850 miles in the United States from Phillips County, Montana to Steele City, Nebraska.
The anticipated cost for the pipeline is US$5.3 billion. The 36-inch diameter pipeline will have an initial capacity of 700,000 barrels per day with the ability to increase to 830,000 barrels per a day.
A draft, supplemental draft and Final Environmental Impact Statement have been issued for Keystone XL, totalling over 10,000 pages of material.
The analysis concluded the project would have "no significant impacts" on the environment along its entire length.
On Friday TransCanada was trading for $42.23. The market cap for the company is $29.8 billion with $704 million shares outstanding. The 52-week high and low was $44.75 and $37.00 respectively.