(Reuters) - TransCanada Corp is taking its second shot at asking Washington to approve the contentious Keystone XL oil pipeline, betting that a new route through Nebraska and post-U.S. election time frame for a decision will push the project forward.
The reapplication to the U.S. State Department on Friday comes after Canada's largest pipeline company carved the proposal into two parts in hopes of kickstarting the project.
U.S. President Barack Obama rejected the full $7.6 billion project early in this election year as concerns spread about the proposed northern portion of the route near an aquifer in Nebraska. Obama has expressed support for the southern portion.
TransCanada has been negotiating with Nebraska state officials over a new route and hopes to have U.S. State Department approval for the northern part of the line early next year with the aim of putting it in service by the end of 2014 or early 2015. That portion would cost $5.3 billion.