TransCanada Corp (TRP.TO), Canada’s number one pipeline company, announced Thursday plans for a new C$340 million ($274 million) pipeline to ship natural gas from the burgeoning Horn River shale region of northeastern British Columbia. Construction is expected to be complete by the middle of 2011, TransCanada said, and the line will be expanded as needed.
“The positive commercial response is a result of the tremendous, largely untapped source for unconventional natural gas in the northeastern B.C. shale basins, combined with TransCanada’s ability to meet this demand economically and efficiently,” said Hal Kvisle, TransCanada president and chief executive officer. “Looking forward, we expect to add future capacity to the line as the right opportunities present themselves.”
TransCanada said it has also received support for a new C$250 million line from the Montney region of northeastern British Columbia.
CNN Money: TransCanada Secures Shipper Commitments for Horn River Pipeline Project
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