(Bloomberg) -- An oil spill from TC Energy Corp.’s Keystone pipeline this week is on track to be one of the largest onshore crude disasters of the decade.
The pipeline carrying heavy oil from Canada to the US has so far leaked about 14,000 barrels in Kansas, TC Energy said Thursday. That’s the biggest spill in Keystone’s history and one of the top five largest onshore oil leaks since 2010, according to data from the Pipeline and Hazardous Materials Safety Agency. The total release could end up being larger.
The worst onshore spills, according to agency data, were Enbridge Energy Inc’s 2010 leak into Michigan’s Kalamazoo River and Tesoro’s 2013 rupture in North Dakota, each of which totaled more than 20,000 barrels.
The latest Keystone spill, which forced the company to shut down the entire pipeline system, has roiled oil markets from Western Canada down to the US Gulf Coast and boosted volatility in the oil market. The company said Thursday it had isolated the affected segment and contained further migration of the release into a creek. It wasn’t immediately clear if the leak itself had been contained.
The company has not provided a restart timeline but traders anticipate a quick resumption on at least some segments of the pipeline. Federal regualtors have already issued guidelines on what a restart would look like, including directives to reduce pressure and flow rates.
TC Energy did not immediately comment.
--With assistance from Ari Natter.
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