CHICAGO TransCanada Corp. plans to spend approximately Canadian $6 billion ($6.1 billion) on two natural gas export projects in British Columbia.
The C$5-billion ($5.1-billion) Prince Rupert gas transmission project is expected to run large-diameter line pipe 470 miles to a recently announced liquefied natural gas (LNG) export facility near Prince Rupert, British Columbia, from the North Motney shale gas region near Fort St. John, British Columbia, the Calgary, Alberta-based energy infrastructure company said Wednesday.
TransCanada was selected by Calgary-based Progress Energy Canada Ltd. to design, build and operate the project, which is expected to be in service by 2018, pending regulatory and other approvals, it said.
"The proposed Prince Rupert gas transmission project will allow British Columbians, and all Canadians, to continue to benefit from the responsible development of the growing supply of natural gas resources in the Western Canada Sedimentary Basin," TransCanada president and chief executive officer Russ Girling said in a statement.
TransCanada is also looking to expand its existing Nova Gas Transmission Ltd. (NGTL) system in northeastern British Columbia to connect to both the Prince Rupert Gas Transmission project and additional gas supplies from the North Motney region, it said.
The extension of the NGTL system is expected to cost between C$1 billion and C$1.5 billion ($1.01 billion to $1.52 billion), TransCanada said, noting that the project is likely to be in service by the end of 2015.