South Bow launches open season for Keystone XL revival

South Bow Corporation has officially launched a formal open season to solicit binding, long-term shipping commitments for the revival of portions of the Keystone XL oil pipeline. This strategic move, announced on Thursday, seeks to establish transportation agreements from Hardisty, Alberta, to various delivery points across the United States. According to the company, the project has the potential to increase crude exports from Canada by more than 12%. The open season is scheduled to run until March 30, after which the company will undergo a 60-day review process to evaluate results and determine future actions. While the Canadian portion of the pipeline is already built and possesses all necessary regulatory permits, the revival of the American segments remains dependent on approval from the Trump administration. If authorized, additional pipeline connections to U.S. refining hubs would be required. South Bow Corporation assumed control of the pipeline assets following its spin-off from TC Energy Corporation. The Keystone XL project was previously canceled in 2021 by the Biden administration. As the company moves forward with its plans, market observers are monitoring the potential impact on North American energy flows alongside global benchmarks such as Brent Crude Oil.