TransCanada Corporation (TSX: T.TRP, Stock Forum) Wednesday announced that it has been selected by Progress Energy Canada to design, build, own and operate the proposed $5 billion Prince Rupert Gas Transmission project, this according to a company news release.
This proposed pipeline will transport natural gas primarily from the North Montney gas-producing region near Fort St. John, British Columbia (B.C.) to the recently-announced Pacific Northwest LNG export facility in Port Edward near Prince Rupert, B.C. It is expected to have an initial capacity of about two billion cubic feet of gas per day.
The definitive agreements are expected to be finalized in early 2013 following Board approvals and TransCanada will immediately begin Aboriginal and stakeholder consultations.
"The proposed Prince Rupert Gas Transmission project will allow British Columbians, and all Canadians, to continue to benefit from the responsible development of the growing supply of valuable natural gas resources in the WCSB," said TransCanada President and CEO Russ Girling.