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CALGARY — TransCanada Corp. (TSX:TRP) says it plans to invest $2 billion to expand its Nova natural gas pipeline system, as it looks to transport more of the fuel from prolific Western Canadian fields.
The Calgary-based company says the proposed expansion is a response to demand from producers operating in the Montney, Duvernay and Deep Basin formations which straddle or are near the B.C.-Alberta boundary. It said many producers are looking to ship to markets in the Pacific Northwest, California and Nevada.
Horizontal drilling and hydraulic fracturing technology have made the region one of the most productive natural gas plays in Canada, but industry players have complained of insufficient pipeline space.
TransCanada says it will engage landowners, communities and indigenous groups near areas where it proposes to build additional pipeline capacity, compressor stations and other facilities.
It plans to file applications with the National Energy Board starting in the fourth quarter of 2017 and, subject to approvals, expects construction to begin in 2019 with final projects in service by 2021.
The Canadian Press
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