TransCanada says growth in Alberta, BC spurs natural gas system expansion

FILE: A Natural Gas power plant operated by TransCanada in Halton Hills, Ontario on November 5, 2013. AP Photo

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.

TransCanada says growth in northwestern Alberta and northeastern British Columbia are the primary drivers for these new contracts.

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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.

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