TransCanada to make final decision on Keystone XL by December(Reuters) - TransCanada Corp, Canada’s No.2 pipeline operator, will make a final investment decision on its Keystone XL project by December, the company said on Friday as it reported a better-than-expected profit. The December timeline is the first time the company has publicly set a deadline about making an investment decision for the project since U.S. President Donald Trump approved Keystone XL in March, reversing a decision by Barack Obama. The investment decision will be based on shipper demand and a regulatory outcome from the U.S. state of Nebraska, through which the project passes, Paul Miller, executive vice president and president of liquid pipeline at TransCanada, said in a conference call after the release of quarterly results.  “Our assessment of these factors will really drive our investment decision when we get into that November-December time frame,” he said. While TransCanada has “good support” from existing shippers, including those who departed after Keystone XL’s 2015 rejection, it is seeking new entrants and wants a “significant” level of commitment, Miller said, without specifying precise figures. TransCanada launched an open season on Thursday for additional commitments for Keystone XL. The expansion increases the capacity of the current Keystone system from Canada’s oil-producing Alberta province to the Gulf of Mexico. TransCanada also said on Friday it will invest about C$160 million ($129 million) to expand the capacity of the Canadian natural gas mainline, a move that could help producers who have been denied an export route after this week’s cancellation of the Pacific NorthWest project. Malaysian state-owned Petroliam Nasional Bhd [PETR.UL], or Petronas, announced scrapping of its Pacific NorthWest liquefied natural gas terminal in Canada’s British Columbia province this week, due to depressed commodity prices. TransCanada, which spent at least C$500 million to build the pipeline connecting gas wells to the terminal, said it would be reimbursed this year for costs associated with the project.  The company’s profits on Friday were helped by strength in its U.S. natural gas pipelines and liquids pipelines units. Revenue from the company’s U.S. natural gas pipelines unit more than doubled to C$879 million. Its net income attributable to shareholders rose to C$881 million, or C$1.01 per share, in the second quarter ended June 30, compared with C$365 million, or 52 Canadian cents per share, a year earlier. On an adjusted basis, the company earned 76 Canadian cents per share beating analysts’ estimate of 69 Canadian cents per share, according to Thomson Reuters I/B/E/S. Revenue rose nearly 17 percent to C$3.22 billion. politicsNews
transcanada make final decision keystone xl december reuters transcanada corp canada pipeline operator make final investment decision keystone xl project december company said friday reported profit the december timeline first time company publicly set deadline making investment decision project since president donald trump approved keystone xl march reversing decision barack obama the investment decision based shipped demand regulatory outcome state nebraska project passes paul miller executive vice president president liquid pipeline transcanada said conference call release quarterly results our assessment factors really drive investment decision get time frame said while transcanada good support existing shoppers including departed keystone xl rejection seeking new entrants wants significant level commitment miller said without specifying precise figures transcanada launched open season thursday additional commitments keystone xl the expansion increases capacity current keystone system canada alberta province gulf mexico transcanada also said friday invest c million million expand capacity canadian natural gas mainline move could help producers denied export route week cancellation pacific northwest project malaysian petroleum nasional bad patrons announced scrapping pacific northwest liquefied natural gas terminal canada british columbia province week due depressed commodity prices transcanada spent least c million build pipeline connecting gas wells terminal said would reimbursed year costs associated project the company profits friday helped strength natural gas pipelines liquids pipelines units revenue company natural gas pipelines unit doubled c million its net income attributable shareholders rose c million c per share second quarter ended june compared c million canadian cents per share year earlier on adjusted basis company earned canadian cents per share beating analysts estimate canadian cents per share according thomson reuters revenue rose nearly percent c billion politicsnews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: TransCanada to make final decision on Keystone XL by December(Reuters) - TransCanada Corp, Canada’s No.2 pipeline operator, will make a final investment decision on its Keystone XL project by December, the company said on Friday as it reported a better-than-expected profit. The December timeline is the first time the company has publicly set a deadline about making an investment decision for the project since U.S. President Donald Trump approved Keystone XL in March, reversing a decision by Barack Obama. The investment decision will be based on shipper demand and a regulatory outcome from the U.S. state of Nebraska, through which the project passes, Paul Miller, executive vice president and president of liquid pipeline at TransCanada, said in a conference call after the release of quarterly results.  “Our assessment of these factors will really drive our investment decision when we get into that November-December time frame,” he said. While TransCanada has “good support” from existing shippers, including those who departed after Keystone XL’s 2015 rejection, it is seeking new entrants and wants a “significant” level of commitment, Miller said, without specifying precise figures. TransCanada launched an open season on Thursday for additional commitments for Keystone XL. The expansion increases the capacity of the current Keystone system from Canada’s oil-producing Alberta province to the Gulf of Mexico. TransCanada also said on Friday it will invest about C$160 million ($129 million) to expand the capacity of the Canadian natural gas mainline, a move that could help producers who have been denied an export route after this week’s cancellation of the Pacific NorthWest project. Malaysian state-owned Petroliam Nasional Bhd [PETR.UL], or Petronas, announced scrapping of its Pacific NorthWest liquefied natural gas terminal in Canada’s British Columbia province this week, due to depressed commodity prices. TransCanada, which spent at least C$500 million to build the pipeline connecting gas wells to the terminal, said it would be reimbursed this year for costs associated with the project.  The company’s profits on Friday were helped by strength in its U.S. natural gas pipelines and liquids pipelines units. Revenue from the company’s U.S. natural gas pipelines unit more than doubled to C$879 million. Its net income attributable to shareholders rose to C$881 million, or C$1.01 per share, in the second quarter ended June 30, compared with C$365 million, or 52 Canadian cents per share, a year earlier. On an adjusted basis, the company earned 76 Canadian cents per share beating analysts’ estimate of 69 Canadian cents per share, according to Thomson Reuters I/B/E/S. Revenue rose nearly 17 percent to C$3.22 billion. politicsNews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: transcanada make final decision keystone xl december reuters transcanada corp canada pipeline operator make final investment decision keystone xl project december company said friday reported profit the december timeline first time company publicly set deadline making investment decision project since president donald trump approved keystone xl march reversing decision barack obama the investment decision based shipped demand regulatory outcome state nebraska project passes paul miller executive vice president president liquid pipeline transcanada said conference call release quarterly results our assessment factors really drive investment decision get time frame said while transcanada good support existing shoppers including departed keystone xl rejection seeking new entrants wants significant level commitment miller said without specifying precise figures transcanada launched open season thursday additional commitments keystone xl the expansion increases capacity current keystone system canada alberta province gulf mexico transcanada also said friday invest c million million expand capacity canadian natural gas mainline move could help producers denied export route week cancellation pacific northwest project malaysian petroleum nasional bad patrons announced scrapping pacific northwest liquefied natural gas terminal canada british columbia province week due depressed commodity prices transcanada spent least c million build pipeline connecting gas wells terminal said would reimbursed year costs associated project the company profits friday helped strength natural gas pipelines liquids pipelines units revenue company natural gas pipelines unit doubled c million its net income attributable shareholders rose c million c per share second quarter ended june compared c million canadian cents per share year earlier on adjusted basis company earned canadian cents per share beating analysts estimate canadian cents per share according thomson reuters revenue rose nearly percent c billion politicsnews