The South Dakota Legislature’s executive board has approved the termination of the surety bond for the Keystone XL pipeline.
TransCanada Keystone Pipeline paid a principal amount of $20 million in July 2020 for a surety bond to the state while the project was ongoing. The money was put up as security for costs South Dakota might have incurred from protests related to the project, according to executive board members.
“The surety bond posted with the Department of Revenue renews July 6, 2022, requiring the company to pay a substantial sum as a bond premium,” attorneys for Keystone wrote in a letter […]
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