By NATHALIE TADENA
TransCanada said it will proceed with a $1.44 billion dollar extension of its NOVA Gas Transmission system in northeast British Columbia, a region where the development of natural gas resources is rapidly increasing.
TransCanada said it has signed agreements with Progress Energy Canada for about 2 Bcfd of gas transportation services to underpin the development of the NOVA Gas Transmission pipeline extension.
TransCanada said the proposed North Montney Mainline will be an extension from the existing Groundbirch Mainline section of the NGTL system in northeast British Columbia. The project will also connect to TransCanada's proposed Prince Rupert Gas Transmission project to provide natural gas supply to the proposed Pacific NorthWest LNG export facility near Prince Rupert, British Columbia.
The company noted that NGTL is also in discussions with other parties that have expressed interest in obtaining transportation services that would utilize the North Montney Mainline facilities.
TransCanada said it expects to file an application with the National Energy Board in the Q4 of 2013 for approvals to build and operate the facilities.
Dow Jones Newswires