UPDATE: TransCanada Shares Rise on Pipeline Application News

By MT Newswires,  May 04, 2012, 02:39:11 PM EDT

Shares of TransCanada Corporation (TRP.TO) moved into positive territory after the company announced that it applied to the U.S. government for a new permit to build its controversial Keystone XL oil pipeline.

The Calgary-based company said today that it has filed a new application with the U.S. State Department for a pipeline running between the Canada-U.S. border and Steele City, Nebraska.

The application includes a new route that will avoid the ecologically sensitive Sand Hills region.

Construction is expected to begin in early 2013, with oil flowing in late 2014 or early 2015.

TRP shares were up five cents to $43.00 on volume of 935 thousand.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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