Pipeline companies should move on after Keystone XL rejected

Pipeline insiders say it's time for the industry to shift itsfocus to new projects that could get Canadian crude to new markets.

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The comments come on the heels of the President Barack Obama'sdecision to reject TransCanada'scontroversial Keystone XL pipeline, which would have carried bitumen from Alberta's oilsandsto refineries on the U.S. Gulf Coast.

Speaking at the Canadian Energy Pipeline Association's annual gala, CEPApresident Brenda Kenny said it's time for the industry to move past Keystone.

"It's disappointing naturally, but at the same time I think it's just time to move forward," Kenny said.

Kenny addsthe industry should turn its attention tochange how Canadians view pipelines.

"We all have to be very focused on climate change and work hard to reduce the use of all kinds of energy and to make production cleaner."

Another primary focus for Canada's pipeline industry is to improve its safety record.

"Our commitment to safety and performance with a goal of zero incidents is the glue that keeps us together and moving," Kenny said.

Steven Paget, a researcher with First Energy Capital, says Alberta's pipeline industry hasn't ground to a halt after the rejection of Keystone.

"One blocked one does not a blocked industry make," said Paget.

Keystone Proposal Rejected

9 years ago

Duration 2:55

U.S. President Barack Obama has rejected the Keystone pipeline project.

He adds that the recent slow down has meant tougher times for companies involved in oil and gas exploration while those involved in pipelines have faired better.

"They have access to debt, equity, capital, they have access to money, and they're still getting paid," he said.

Pagetbelievesthe pipeline industry must now focus on projects that will be able to move Alberta crude toCanada's east and west coasts.