TransCanada says Gulf Coast pipeline project sticks to schedule

CALGARY, Alberta Tue Jan 22, 2013 3:47pm EST

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CALGARY, Alberta Jan 22 (Reuters) - TransCanada Corp Chief Executive Russ Girling said on Tuesday that the company's $2.3 billion Gulf Coast project is on schedule and he expects 700,000 barrel-per-day pipeline to open by year end.

Speaking to reporters in Calgary, Girling said work on the project is 40 percent complete and welding on the 485-mile (780-kilometer) pipeline should be completed by the end of September. The Cushing, Oklahoma, to Nederland, Texas, pipeline - the southern leg of the controversial Keystone XL project - will be then be filled with oil and tested in the fourth quarter.

"It's not going to be a matter of weeks but the end of the year is the best that we can do," he said.


After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.