By Arathy Somasekhar and Amanda Stephenson

HOUSTON, June 30 (Reuters) - South Bow and Bridger Pipeline plan to jointly develop a new pipeline project from Guernsey, Wyoming to Cushing, Oklahoma, Canada's South Bow said in an emailed statement on Tuesday.

The project will be developed along a corridor acquired from another company, South Bow said.

The Bridger and South Bow project teams are currently working on the details of the project and will provide additional information as it becomes available, the companies said, adding that their first priority was to engage landowners and communities along the proposed route.

The two companies have proposed an Alberta-to-Guernsey, Wyoming oil pipeline that could increase Canada's crude exports to the U.S. by more than 12% if it goes ahead, bringing much-needed pipeline takeaway capacity to Canada.

However, analysts have said Guernsey is not an end market for crude oil, so additional links would need to be built to transport oil to refining hubs such as Cushing, Oklahoma.