TransCanada announces new Western gas pipeline
WASHINGTON - Agence France-Presse
The length of the route will be approximately 750 kilometres.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 to design, build, own and operate the pipeline to carry gas to a new liquefied natural gas terminal being built near Prince Rupert, British Columbia.
Progress Energy, which was recently bought by Malaysia’s national oil company Petronas, is both developing the North Motney shale gas fields and building the LNG terminal.
Second major pipeline
In an email, a TransCanada spokesman told AFP funding for the project will come from “multiple sources,” and construction costs would eventually be recouped through tolls.
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.