TransCanada announces $2.7B Nova pipelinne expansion
The Calgary-based company says demand from shippers has increased
CALGARY—TransCanada Corp. is planning to expand its Nova natural gas pipeline system by 2017 at a cost of $2.7 billion.
The system currently carries about three-quarters of the gas produced in the Western Canada Sedimentary Basin that has been a major source of Alberta’s conventional gas supply but TransCanada says demand from shippers has increased.
The Calgary-based company says it plans multiple projects so it can also carry more gas from unconventional sources in northwest Alberta and northeast British Columbia to markets in Canada and the United States.
TransCanada will require regulatory approvals and says it plans to file applications for various parts of the project with the National Energy Board between now and the third quarter of 2015.
It’s aiming to begin construction in 2016 and have all the changes in service by the second quarter of 2017.