TransCanada Corp. (Toronto: TRP.TO) is moving forward with its Vaughan pipeline project and associated facilities as part of $475 million in pipeline and facility expansions within the Eastern Triangle portion of the Canadian Mainline system. This is the next step of development for natural gas infrastructure in southern Ontario and is the result of collaboration between TransCanada, Enbridge Gas Distribution, Gaz Metro and Union Gas.
Construction of TransCanada's Kings North Connection, Parkway West Connection and Hamilton Area Project are expected to cost about $255 million and be in-service in November 2015. The Vaughan pipeline and associated facilities are expected to cost approximately $220 million and be in-service in November 2016.
"Over the past year, TransCanada has announced plans to invest almost $2 billion in facility enhancements to allow growing supplies of Marcellus gas to reach Ontario and Quebec markets," said Russ Girling, president and chief executive officer of TransCanada. "These enhancements help minimize the duplication of infrastructure, reduce delivery costs and improve the diversification of gas supply to markets in Eastern Canada."
These projects are backed by long-term, binding agreements and have been developed to respond to changing market needs. All of these projects are subject to regulatory approval.
TransCanada is based in Calgary.
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