Scottish Power, National Grid and Shell UK want to use an existing natural gas line - running from Falkirk to Peterhead - for the project.
It is part of a carbon capture scheme to pump emissions from Longannet power station in Fife to the North Sea.
Residents living within 500m of the pipeline have been told of the plans.
Carbon capture and storage (CCS) is a process involving the capture of CO2 from power plants and other industrial sources for storage in sites such as depleted oil and gas fields. Read the full report here.
Source: by Jo Perry, BBC Scotland news website.