TransCanada Announces Successful Completion of NGTL Export Capacity Open Season
March 20 2018 - 12:00PM
Media Advisory – TransCanada Corporation (TSX:TRP) (NYSE:TRP)
(TransCanada) today announced that it has successfully completed
its second binding expansion capacity Open Season at the
Empress/McNeill Export Delivery Point on its NOVA Gas Transmission
Ltd. (NGTL) System in 2018. NGTL offered 280 million cubic feet per
day of firm service, targeted to commence in November 2021. The
Open Season closed on March 15, 2018, and was oversubscribed, with
an average awarded contract term of approximately 22 years.
This capacity offering follows a successful Open Season held in
January 2018 for 1.0 Bcf/d of expansion capacity at the same
delivery point, with service commencing between November 2020 and
April 2021, and underpinning a recently announced $2.4 billion NGTL
System expansion. This earlier Open Season was also oversubscribed,
and industry had expressed strong interest for additional market
access.
“The success of this Open Season reinforces the critical role
that the NGTL System plays to transport clean-burning natural gas
out of the Western Canadian Sedimentary Basin and expand market
connectivity for producers,” said Tracy Robinson, TransCanada’s
senior vice president, Canada Gas Pipelines. “We are committed to
working collaboratively with industry and providing competitive
options to connect growing basin supply to downstream markets
across North America.”
NGTL is working to finalize the scope of expansion facilities
required to meet the incremental service requirements resulting
from this Open Season, and anticipates an expansion investment of
approximately $120 million. Any expansion facilities will be in
addition to NGTL’s existing capital expansion programs totalling
approximately $7.2 billion.
With more than 65 years' experience, TransCanada is a leader in
the responsible development and reliable operation of North
American energy infrastructure including natural gas and liquids
pipelines, power generation and gas storage facilities. TransCanada
operates one of the largest natural gas transmission networks that
extends more than 91,900 kilometres (57,100 miles), tapping into
virtually all major gas supply basins in North America. TransCanada
is a leading provider of gas storage and related services with 653
billion cubic feet of storage capacity. A large independent power
producer, TransCanada currently owns or has interests in
approximately 6,100 megawatts of power generation in Canada and the
United States. TransCanada is also the developer and operator of
one of North America’s leading liquids pipeline systems that
extends approximately 4,900 kilometres (3,000 miles), connecting
growing continental oil supplies to key markets and refineries.
TransCanada’s common shares trade on the Toronto and New York stock
exchanges under the symbol TRP. Visit TransCanada.com to learn
more, or connect with us on social media and 3BL Media.
Media Enquiries:Shawn Howard403.920.7859 or 800.608.7859
TransCanada Investor & Analyst Enquiries:David Moneta /
Stuart Kampel403.920.7911 or 800.361.6522
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