TransCanada Corp said on Wednesday it could start building the portion of the Keystone XL pipeline plan that runs from Cushing, Oklahoma, to the Gulf of Mexico, even as it awaits U.S. approval for the project as a whole.The company said its customers are eager for a way to move oil from the glutted Cushing storage hub to the Gulf Coast, where refineries are paying a premium for crude.While it has secured many of the of the required regulatory approvals and rights-of-way for the Gulf leg of the controversial project, TransCanada said it will not go ahead without the blessing of the U.S. State Department, which last week delayed approval for the full project to late 2012 or early 2013.In delaying its decision, the State Department asked that the line's path through Nebraska be moved away from environmentally sensitive areas. The full Keystone XL pipeline would transport crude from the northern Alberta oil sands to the Gulf Coast.
TransCanada Corporation (TransCanada) is a North American energy infrastructure company focused on natural gas pipelines, oil pipelines and energy. Shares of TRP traded higher by 0.48% or $0.19/share to $40.10. In the past year, the shares have traded as low as $34.90 and as high as $45.09. On average, 870912 shares of TRP exchange hands on a given day and today's volume is recorded at 407196.
