TransCanada Announces Export Capacity Expansion on the NGTL System
June 18 2018 - 10:06AM
Media Advisory – TransCanada Corporation (TSX:TRP) (NYSE:TRP)
(TransCanada) announced today that it will move forward with a
proposed $140-million expansion of its NOVA Gas Transmission Ltd.
(NGTL) System following the successful completion in March of an
expansion capacity open season for incremental firm export delivery
service at the Empress/McNeill Export Delivery Point.
Shippers have executed binding agreements for 280 million cubic
feet per day (MMcf/d) of incremental firm delivery service that
will commence November 2021. The average term of the contracts
awarded for the expansion capacity is 22 years. NGTL also
concurrently executed incremental intra-basin firm delivery service
contracts with other shippers for an aggregate volume of 75 MMcf/d
that contribute to the need for the new facilities.
"The successful open season for incremental export capacity
demonstrates the significant continued interest of parties in the
Western Canadian Sedimentary Basin to secure access to high value
downstream markets,” said Tracy Robinson, TransCanada's senior
vice-president and general manager, Canadian Gas Pipelines.
“TransCanada remains firmly committed to providing our customers
timely and reliable access to these markets through appropriate
facility expansions and competitive service offerings.”
This new investment is a component of NGTL’s $7.3-billion
multi-year infrastructure expansion program that will increase
transportation capacity for Western Canada producers and provide
downstream markets increased access to clean-burning natural
gas.
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.
FORWARD-LOOKING INFORMATION
This publication contains certain information that is
forward-looking and is subject to important risks and uncertainties
(such statements are usually accompanied by words such as
"anticipate", "expect", "believe", "may", "will", "should",
"estimate", "intend" or other similar words). Forward-looking
statements in this document are intended to provide TransCanada
security holders and potential investors with information regarding
TransCanada and its subsidiaries, including management's assessment
of TransCanada's and its subsidiaries' future plans and financial
outlook. All forward-looking statements reflect TransCanada's
beliefs and assumptions based on information available at the time
the statements were made and as such are not guarantees of future
performance. Readers are cautioned not to place undue reliance on
this forward-looking information, which is given as of the date it
is expressed in this news release, and not to use future-oriented
information or financial outlooks for anything other than their
intended purpose. TransCanada undertakes no obligation to update or
revise any forward-looking information except as required by law.
For additional information on the assumptions made, and the risks
and uncertainties which could cause actual results to differ from
the anticipated results, refer to the Quarterly Report to
Shareholders dated April 26, 2018 and 2017 Annual Report filed
under TransCanada's profile on SEDAR at www.sedar.com and with the
U.S. Securities and Exchange Commission at
www.sec.gov.
Media Inquiries: Terry Cunha 800.608.7859
TransCanada Investor & Analyst Inquiries:
David Moneta / Duane Alexander 403.920.7911 or 800.361.6522
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