CALGARY – TransCanada Corp. (TSX:TRP) says its NOVA Gas Transmission Ltd. subsidiary has signed contracts that will require a $570-million system expansion for 2018.
The company says NOVA Gas has signed firm contracts to transport about 2.7 billion cubic feet of natural gas per day.
![Get expert insights, Q&A on markets, housing, inflation, and personal finance information delivered to you every Saturday.](https://globalnews.ca/wp-content/themes/shaw-globalnews/images/skyline/money123.jpg)
Get weekly money news
TransCanada says growth in northwestern Alberta and northeastern British Columbia are the primary drivers for these new contracts.
READ MORE: Job cuts coming at pipeline giant TransCanada
The expansion includes multiple projects that total 88 kilometres of pipeline, one new compressor, approximately 35 new and expanded meter stations and other associated facilities.
TransCanada says applications to build and operate the project will be filed with the National Energy Board next year, with construction expected to start in 2017.
READ MORE: TransCanada wins US$500M pipeline contract in Mexico
Comments