TransCanada Files Amended Bid for Keystone

Friday, 04 May 2012 11:31 AM

 

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TransCanada Corp. has re-applied for a U.S. permit for the $5.3 billion Keystone XL oil pipeline, this time seeking permission to build a portion of the original project from the Canadian border to Steele City, Nebraska.

The application uses already reviewed routes through Montana and South Dakota and will add an “alternative” path through Nebraska determined by the state’s Department of Environmental Quality, according to a statement from the Calgary-based company today.

TransCanada’s prior application for the Keystone XL project, stretching from Canada to the Gulf Coast, was rejected by President Barack Obama on Jan. 18 in part because of potential environmental effects in Nebraska. The project needs approval from the U.S. State Department because it crosses an international border.

“The Keystone XL project offers Americans a choice of receiving a reliable source of Canadian and U.S. oil through this pipeline system or continuing to import crude oil from unstable places such as the Middle East and Venezuela that do not share American values,” TransCanada said in the statement.

As originally envisioned, the $7.6 billion project would’ve expanded TransCanada’s existing Keystone pipeline to carry as much as 830,000 barrels a day from Canada’s oil sands and North Dakota’s Bakken Shale along a 1,661-mile (2,672-kilometer) path to Gulf Coast refineries. The scaled-back proposal covers 1,179 miles of the northern portion of the project.

TransCanada expects to start construction of this portion of Keystone XL in the first quarter and finish by as late as early 2015, the company said. It expects to begin construction as soon as June on a pipeline from Cushing, Oklahoma, to Texas refineries that was part of the original Keystone XL proposal.


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