TransCanada re-applies to build Keystone XL after Donald Trump executive order

CALGARY – TransCanada Corp. (TSX:TRP) has submitted a new presidential permit application to the U.S. Department of State for approval of the Keystone XL pipeline.

The project would move oil 1,900 kilometres from Alberta to Steele City, Neb., where it would connect with other lines leading to refineries along the U.S. Gulf Coast.

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The application comes after U.S. President Donald Trump signed an order earlier this week to help expedite the project.

READ MORE: Will Keystone XL be good for Canada? Depends who you ask

Trump directed the State Department and other agencies to make a decision within 60 days of a final application and declared that a 2014 environmental study satisfies required reviews under environmental and endangered species laws.

Former president Barack Obama rejected Keystone XL in late 2015, declaring it would undercut U.S. efforts to clinch a global climate change deal that was a centrepiece of his environmental agenda.