Oil
5:45 am
Tue February 28, 2012

New pipeline receives support from White House

CALGARY, ALBERTA - TransCanada says it will move forward with plans to construct the segment of oil pipeline from Cushing, Oklahoma to Port Arthur, Texas.

TransCanada believes the $2.3 billion Gulf Coast portion of the project, which is still subject to regulatory approvals, will be in service by mid to late 2013.

The new proposal does not require presidential approval because it does not cross a U.S. border.

The Gulf Coast leg was originally part of the 1,700-mile Keystone XL oil pipeline project, which was rejected by the Obama Administration last month due to uncertainty over a route that avoids the environmentally sensitive Sandhills region in Nebraska. They said there was not enough time for a fair review before a looming deadline.

But the White House Monday welcomed the Canadian company’s plan to build the oil pipeline from Oklahoma through Texas.

TransCanada is re-applying to the U.S. State Department for a cross-border permit for the larger Keystone XL project.

 

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