TransCanada Calls Energy East Pipeline ‘Very, Very Promising’

TransCanada Corp., builder of the Keystone XL pipeline, may announce shortly that it will go ahead with a separate link to transport oil to Canada’s Atlantic Coast, Chief Executive Officer Russ Girling said.

Advancing Energy East, a 4,400-kilometer (2,735-mile) partial conversion of its Mainline natural gas line, looks “very, very promising,” Girling said today in an interview at Bloomberg headquarters in New York. The company finished receiving binding commitments from shippers on June 17 and is working through contractual details, he said.