By CAROLYN KING
TransCanada on Friday said it has pushed back the in-service date for its proposed Keystone XL pipeline to the second half of 2015 as it awaits approval for the controversial project.
The Calgary, Alberta-based pipeline company had previously projected an in-service date of late 2014 or early 2015, subject to obtaining approval from the Obama Administration.
The US State Department is still reviewing the project, which has faced stiff opposition from environmental groups.
TransCanada said its $5.3 billion cost estimate for the project will rise, depending on the approval timing.
At the end of the first quarter, it had spent $1.8 billion on the project, which would pump 700,000 bpd of crude oil from Alberta to Nebraska, where it would link to other pipelines bound for US Gulf Coast refineries.
Dow Jones Newswires