TransCanada Mulls ‘Bullet’ Oil Line To US Gulf Coast -Report

OTTAWA -(Dow Jones)- TransCanada Corp. (TRP) is considering a direct “bullet” oil sands pipeline, traversing almost a straight line from Alberta to the U.S. Gulf Coast, a Reuters report said Thursday.

Alternatively, TransCanada could connect Alberta’s oil sands with more distant refineries by converting underused natural gas pipelines for part of the route, Chief Executive Hal Kvisle said, according to the report.

“But if the demand for transportation materializes more quickly, we would look at building a direct line,” Kvisle was quoted as saying. “Either way, the discussions are well advanced and this is one of the future projects that we will be bringing forward here in the months ahead.”

The company is already targeting the region with its proposed $5.2 billion Keystone pipeline from Alberta to the U.S. Midwest, which it plans to extend to the Gulf Coast refining hub.

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