TransCanada To Build New Export Facility To Deliver Natural Gas To Malaysia; Keystone XL Killed But The Beat Goes On

Updates

June 14, 2017: TransCanada moves ahead with $2-billion NGTL system expansion. Data points from Oil & Gas Journal:

• NOVA Gas Transmission Line (NGTL)
• $2 billion expansion; adding to the system's current %5.1 billion near-term capital program
• in the aggregate: 273 km of pipeline; 150 MW of compression at five compressor stations, new meter stations
• construction expected to start in early 2019
• initial projects to be in service in 4Q19
• expansion needed due to growing producer demand to link Montney, Duvenay, and Deep basin production to the NGTL system and move to intra-basin and export markets
• the 24,012-km NGTL system gathers 75% of Western Canada Sedimentary Basin gas production in Alberta and northeastern British Columbia 

Original Post

Reuters is reporting, but it looks like a standard press release from the company:

TransCanada Corp said on Tuesday it has signed an agreement with Malaysian-owned Progress Energy to transport two billion cubic feet per day of natural gas to underpin the $1.5 billion extension of its NGTL pipeline system in British Columbia.

The extension will also include an interconnection with TransCanada's planned Prince Rupert Gas Transmission project, which will supply natural gas to a proposed liquefied natural gas (LNG) export facility in Prince Rupert, BC.

Malaysia's Petronas acquired Progress Energy in a $4.9 billion deal last year. Petronas has applied to Canada's National Energy Board for a license to export nearly 20 million tonnes of LNG a year from the West Coast.

The 305 kilometre (189 mile) pipeline extension, called the North Montney Mainline, will reach the export delivery facilities in 2019, pending regulatory approvals.

The Keystone XL may have been killed, but the TransCanada beat still goes on. Good for them.

The Beat Goes On, Sonny and Cher