TransCanada announced Wednesday it plans to build a Can$5 billion (US$5.06 billion) natural gas pipeline from the North Montney gas-producing region in Western Canada to a Pacific Coast port.
TransCanada said in a statement it had been selected by Malaysia-controlled Progress Energy Canada to design, build, own and operate the pipeline to carry gas to a new liquid natural gas terminal being built near Prince Rupert, British Columbia.
The pipeline, which must still receive regulatory approval, is to be TransCanada’s second major pipeline connecting Canadian gas fields to Pacific ports for shipping to markets in Asia and elsewhere.
TransCanada currently owns and operates 24,000 kilometers (15,000 miles) of natural gas pipelines in Western Canada. Its two latest projects would add more than 1,400 kilometers to the company’s natural gas transmission systems in the region.
Progress Energy was recently bought by Malaysia’s national oil company Petronas for US$5.5 billion.
TransCanada to build Western Canada gas pipeline
