TransCanada Moves Ahead with $1.5B NOVA Gas Expansion
Calgary-based pipeline company TransCanada Corporation is moving forward with its $1.5 billion NOVA Gas Transmission Ltd. (NGTL) expansion, the company announced Oct. 31.
The expansion will move gas from Alberta and British Columbia to markets all over North America.
The expansion plan includes about 197 kilometers (122 miles) of large diameter pipeline, three compression units, meter stations and associated facilities.
“The NGTL System continues to expand as parties require and contract for greater pipeline capacity to meet the growing demand for clean-burning natural gas from domestic and export markets,” Russ Girling, TransCanada’s CEO, said in a company statement. “This new investment brings the capacity expansion programs underway on the NGTL System to more than $9 billion.”
Applications for approvals to construct and operate the facilities are expected to be filed with the National Energy Board in 2Q 2019. Construction could begin as early as 3Q 2020 with most of capital investments happening in 2021 and 2022.
TransCanada just reported its third quarter profits at $928 million.
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