PETRONAS picks TransCanada for $5bn Canada gas transmission project

09 January 2013 15:34  [Source: ICIS news]

TORONTO (ICIS)--Malaysia’s state oil and petrochemicals major PETRONAS has selected energy infrastructure firm TransCanada as partner for a planned $5bn (€3.8bn) natural gas pipeline transmission project in western Canada, officials said on Wednesday.

The proposed project by Petronas’ Canadian business unit, Progress Energy, will ship gas from the North Montney gas-producing region in British Columbia to Progress’ planned liquefied natural gas (LNG) export facility near Prince Rupert on the British Columbia coast.

The 750-kilometre pipeline, called “Prince Rupert Gas Transmission Project”, would be built, owned and operated by TransCanada.

Its initial capacity would be 2.0bn cubic feet of gas/day, with the ability to expand to 3.6bn cubic feet of gas/day. The estimated in-service date is end-2018, subject to regulatory and other approvals.

Progress Energy and TransCanada expect to finalise definitive agreements in early 2013, they said.

($1 = €0.76)

By: Stefan Baumgarten
+1 713 525 2653

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