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Canada is getting closer to opening its first liquid natural gas (LNG) export terminal now that TransCanada Corp. has received conditional approval to build a pipeline to supply the facility. If given final approval, the 560-mile conduit, called the Prince Rupert Gas Transmission line, would connect the rich Montney gas field in northeastern British Columbia with the Pacific Coast. From there the gas will be exported. Related: Oil Demand Weaker Than Many Expect “This development is a significant step forward,” TransCanada CEO Russ Girling said in a statement on June 12. “The conditional positive final investment decision advances a key component of TransCanada’s C$46 billion capital growth plan.” Girling has a right to be pleased, even relieved. The tentative approval for the pipeline represents rare good news for TransCanada, which in the past few years has had seemingly insurmountable trouble winning approval for crude oil pipeline projects, in particular the proposed Keystone XL conduit that would bring Canadian oil sands from Alberta to the U.S. coast of the Gulf of Mexico. Oil aside though, TransCanada, based in Calgary, has invested generously in LNG, and has deals to build gas pipelines costing a total of more than C$13 billion to several export terminals on Canada’s Pacific coast. The Prince Rupert pipeline would add C$5 billion (US$4.06 billion) to that investment. |
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Transcanada Pipelines Ltd.
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CODE : TRP.TO |
ISIN : CA89353D1078 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Transcanada Pipelines is a producing company based in Canada. Transcanada Pipelines is listed in Canada. Its market capitalisation is CA$ 47.2 billions as of today (US$ 37.7 billions, € 33.1 billions). Its stock quote reached its lowest recent point on February 18, 2000 at CA$ 10.00, and its highest recent level on February 21, 2020 at CA$ 76.58. Transcanada Pipelines has 867 229 952 shares outstanding. |