TransCanada Corporation has acquired Bison Pipeline LLC from Northern Border Pipeline Company. The assets of Bison Pipeline LLC include executed precedent agreements as well as regulatory, environmental and engineering work completed to date on the Bison Pipeline Project (Bison).
Bison is a proposed 289-mile (465-kilometer) pipeline from the Powder River Basin in Wyoming to the Northern Border Pipeline system in Morton County, North Dakota. TransCanada is also developing the Pathfinder Pipeline Project, a 625-mile (1,006-kilometer), interstate natural gas pipeline that would extend from Meeker, Colorado to Morton County, North Dakota where it would interconnect with the Northern Border Pipeline system.
With this acquisition, TransCanada will provide shippers on the proposed Bison Pipeline the opportunity to transport their production on the larger Pathfinder Project. Pathfinder has received significant shipping commitments that are subject to certain conditions and TransCanada is currently working with Pathfinder shippers to satisfy these conditions. If these conditions cannot be met in a timely manner, then TransCanada, as part of the purchase arrangement with Northern Border, has agreed, subject to certain conditions, that it will proceed with the smaller Bison Project.
"The work completed to date on the Bison Project complements the significant advances we have made on our Pathfinder Pipeline Project," said Hal Kvisle, President and Chief Executive Officer of TransCanada. "This acquisition ensures that, either via Pathfinder or Bison, TransCanada will provide transportation services for U.S. Rockies producers who are interested in moving their growing natural gas production to U.S. Midwest markets."
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