TransCanada, Nebraska agree to reroute pipeline away from sensitive aquifer
TransCanada Corp. (TSE:TRP), the company behind the $7 billion Keystone XL pipeline project, has reached a deal with the state of Nebraska to reroute the proposed pipeline around an environmentally sensitive aquifer.
The decision was announced late Monday at a news conference from the Nebraska state legislature.
A bill was earlier introduced that would divert the pipeline away from the ecologically sensitive Sandhills area.
Under the deal reached today, and to be voted on Tuesday, the state will pay for studies to find a new route to avoid the Ogallala aquifer which provides water for millions of people in the area.