TransCanada to reapply for Keystone XL permits

Tue Feb 14, 2012 4:06pm EST
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CALGARY, Alberta (Reuters) - TransCanada Corp expects to reapply for a presidential permit for its delayed Keystone XL pipeline "in the near future" and expects it will receive the approval early in 2013, the head of the company's pipeline division said on Tuesday.

Alex Pourbaix said on a conference call that the company is also still considering building the Alberta-to-Texas pipeline in phases, after shippers asked if it could go ahead with the segment of the line that runs south from the bloated oil storage hub at Cushing, Oklahoma.

"There is an obvious and real need to take care of that bottleneck in Cushing and over the last month, we've received a lot of inbound interest from potential shippers as to whether we could go forward with the Cushing to Gulf Coast phase," Pourbaix said. "We think there's potentially a lot of merit to it and we're just working through that right now."

(Reporting by Scott Haggett; Editing by Peter Galloway)