CALGARY, Alberta – February 7, 2019 – Media Advisory – TransCanada Corporation (TSX, NYSE:TRP) (TransCanada) announced today that it will move forward with an $85 million expansion of its NOVA Gas Transmission Ltd. (NGTL) System that will connect growing Western Canadian Sedimentary Basin (“WCSB”) natural gas supply to a proposed new petrochemical facility near Grande Prairie, Alberta.
This expansion project will be used to deliver natural gas to Nauticol Energy Ltd.’s proposed $2 billion methanol facility. Nauticol has executed long-term firm delivery service contracts for 308 million cubic feet per day, commencing September 2021, to underpin the project.
“The WCSB has extensive low-cost competitive gas supplies and the connection of new value-added markets is important to the long-term economic viability of the basin” said Tracy Robinson, TransCanada’s executive vice-president, Canadian natural gas pipelines. “With more than $9 billion in proposed expansion projects for the NGTL System, NGTL remains strongly focused on connecting
existing and new WCSB supply with intra-basin and export markets through its safe and reliable pipeline infrastructure.”
The project consists of approximately 28 kilometers (17 miles) of NPS 24 pipeline and a new delivery meter station. An application for approval to construct and operate the facilities is expected to be filed with the National Energy Board in the first quarter of 2020 and, pending receipt of regulatory approvals, construction will commence as early as the fourth quarter of 2020.
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.
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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 August 1, 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.
TransCanada Investor & Analyst Inquiries:
David Moneta / Duane Alexander
403.920.7911 or 800.361.6522