According to South Bow’s third quarter results, throughput on Keystone set a third quarter record, averaging 586 Mb/d, while volumes on the Gulf Coast segment averaged about 663 Mb/d. South Bow began lifting pressure restrictions on certain segments of the Keystone pipeline. Management noted that low inventories at Cushing are contributing to relatively tight pricing differentials between Cushing and the Gulf Coast.
The company continues to target a mid-2027 FID for Prairie Connector, and continues to seek not just permitting, but assurance regarding permit durability. Management expects Western Canadian crude supply will likely outstrip export pipeline egress capacity by some point in 2027 even with the near-term expansions starting up.
In 2027 South Bow expects to invest about CAD$65 million in pre-FID work associated with Prairie Connector and Liberty Bridge projects and CAD$30-$50 million in maintenance capital.
South Bow Asset Map. Source: South Bow Corporation
