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Keystone cost hiked to $8.4bn

Pipeline giant TransCanada said on Tuesday that its controversial Keystone XL pipeline to the US will cost $8.4 billion, up from $5.4 billion previously, due to myriad regulatory delays.

Demonstrators carry a replica of a pipeline during a march against the Keystone XL pipeline in Washington, February 17, 2013.The TransCanada Corp pipeline would link the oil sands of northern Alberta, the world's third largest crude resource, to refineries and ports in Texas. Environmentalists say approval of the pipeline will encourage more development in the oil sands, where extraction is carbon intensive, leading to greater greenhouse gas emissions.
Demonstrators carry a replica of a pipeline during a march against the Keystone XL pipeline in Washington, February 17, 2013.The TransCanada Corp pipeline would link the oil sands of northern Alberta, the world's third largest crude resource, to refineries and ports in Texas. Environmentalists say approval of the pipeline will encourage more development in the oil sands, where extraction is carbon intensive, leading to greater greenhouse gas emissions.
Published 4 November 2014, 22:12Updated 11 October 2016, 16:09