HOUSTON (Dow Jones)
TransCanada Corp. (TRP, TRP.T) said Monday it has reached a tentative agreement with the Nebraska state senate that would move the proposed route of its Keystone XL pipeline expansion away from an environmentally sensitive region, possibly reviving a stalled approval process for the controversial pipeline.
TransCanada said the agreement would move the pipeline route away from the Sandhills area of the state. The Nebraska state senate would still need to agree on the change to make the agreement formal, TransCanada spokesman James Millar said.
"Hopefully it will speed up approval process," he said of the agreement.
The U.S. State Department said last Thursday it would delay approving the cross-border pipeline for up to 18 months because of concerns about its environmental impact. Approval for the expansion, which would more than double the amount of heavy Canadian crude TransCanada ships from Alberta to the U.S., was expected to be given by the end of this year.
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