TransCanada Corporation

TransCanada Corporation

Type	Public
Traded as	TSX: TRP NYSE: TRP S&P/TSX 60 component
Industry	Oil and gas Electricity
Founded	1951
Headquarters	Calgary, Alberta, Canada
Key people	Russ Girling, President and CEO
Products	Electric power
Services	Pipeline transport Natural gas storage
Number of employees	4,800[1]
Website	www.transcanada.com

TransCanada Corporation is a major North American energy company based in Calgary, Alberta, developing and operating energy infrastructure in North America. Its pipeline network includes approximately 3,460 kilometres (2,150 miles) of oil pipeline, plus approximately 68,500 kilometres (42,564 miles) of wholly owned and 11,500 kilometres (7,146 miles) of partially owned gas pipeline that connects with virtually all major gas supply basins in North America. TransCanada is one of the continent’s largest providers of gas storage and related services with approximately 407 billion cubic feet (1.15×10¹⁰ m³) of storage capacity. TransCanada also owns, or has interests in, approximately 11,800 megawatts of power generation.^[2]

TransCanada is the largest shareholder in, and owns the general partner of, TC PipeLines, LP. The company was founded in 1951 in Calgary.^[3] In January 2014, 46% of the ownership of TransCanada was by institutional shareholders.^[4]

Pipelines

Wholly owned pipelines:

• NGTL System (24,337 km)
• Canadian Mainline (14,101 km)
• Foothills System (1,241 km)
• ANR Pipeline (16,656 km)
• Gas Transmission Northwest System (2,178 km)
• North Baja Pipeline (138 km)
• Tamazunchale Pipeline (130 km)

Affiliated pipelines:

• Great Lakes Gas Transmission Company (3,404 km)
• Northern Border Pipeline (2,265 km)
• Portland Natural Gas Transmission System (474 km)
• TC PipeLines, LP
• Keystone Pipeline
• Trans-Quebec and Maritimes Pipeline (572 km)
• Tuscarora Gas Pipeline (491 km)

Keystone Pipeline

TransCanada maintains that people have public access to the pipeline, thus supporting criteria for eminent domain. "It's open for anyone to do business on our pipeline, we welcome business to our pipe." said TransCanada Media Relations Michael Barnes.^[5]

At one point in October 2011, TransCanada was involved in up to 56 separate eminent domain actions against landowners in Texas and South Dakota who have refused to give permission to the company to build the Keystone Pipeline on their land.^[6] However, on August 23, 2012, Texas Judge Bill Harris ruled that TransCanada has the legal right of eminent domain and may lease or purchase land from owners who refused to sign an agreement with the company for the public right-of-way of a pipeline. The landowners had claimed that because the pipeline was not open to other companies, it did not meet the criteria for eminent domain.^[7]

On September 27, 2012, protesters began tree sitting in the path of the Keystone pipeline near Winnsboro, Texas. Eight people stood on tree platforms just ahead of where crews were cutting down trees to make way for the pipeline.^[8]

On October 4, 2012, actress and activist Daryl Hannah and 78-year-old Texas landowner Eleanor Fairchild were arrested for criminal trespassing and other charges after they were accused of standing in front of TransCanada pipeline construction equipment on Fairchild's farm in Winnsboro, a town about 100 miles east of Dallas.^[9] Ms. Fairchild has owned the land since 1983 and refused to sign any agreements with TransCanada. Her land was seized by eminent domain.

British Columbia gas export pipelines

As of June 2013 these projects remain subject to regulatory approval and licensing.^[10][11]

In June 2012 it was announced that TransCanada was selected by Shell and partners Korea Gas Corporation, Mitsubishi Corporation and PetroChina Company Limited to design, build, own and operate^[11] the Coastal GasLink pipeline between northeastern B.C. oil fields near Dawson Creek, British Columbia and an LNG facility export facility on the Douglas Channel near Kitimat, British Columbia.^{[12][13][14][15]}

In January 2013 it was announced that TransCanada was selected by Petronas to design, build, own, and operate^[10] the Prince Rupert Gas Transmission project, a gas pipeline that would transport natural gas from the Montney region near Fort St. John, British Columbia to a LNG terminal planned by Progress Energy Canada Ltd. in Port Edward, British Columbia on Lelu Island near Prince Rupert, British Columbia.^[16]

TransCanada's existing NGTL system in northeastern B.C. will be expanded and integrated into the new export pipeline systems.^[10][12]

Pipelines in Alberta

In October 2012, TransCanada formed a 50-50 CAD$3bn joint-venture with Phoenix Energy Holdings Ltd. (the Canadian subsidiary of PetroChina) to develop the 500 km Grand Rapids Pipeline.^[17]

Power plants

• Bear Creek Cogeneration Plant (80 MW, Alberta, Canada)
• Becancour Power Plant (^[18] 0 MW, Quebec, Canada)
• Cancarb (Carbon black manufacturer, 27 MW, Alberta, Canada)
• Carseland Cogeneration Plant (80 MW, Alberta, Canada)
• Connecticut River Hydroelectricity Generating System (484 MW, USA)
• Deerfield River Hydro Generating System (83 MW, USA)
• Grandview Cogeneration Plant (90 MW, New Brunswick, Canada)
• Halton Hills Combined Cycle Generating Plant (683 MW, Ontario, Canada)
• Kibby Wind Power (132 MW, Maine, USA)
• MacKay River Cogeneration Plant (165 MW, Alberta, Canada)
• Ocean State Power (560 MW, Rhode Island, USA)
• Ravenswood generating station (2,480 MW, Long Island City, NY, USA)
• Redwater Cogeneration Plant (40 MW, Alberta, Canada)
• Bruce Nuclear Generating Station (6,300 MW, Ontario, Canada)
• Cartier Wind Energy (Quebec, Canada)
• Portlands Energy Centre (550 MW, Ontario, Canada)
• Sundance A and B Power Purchase Agreements (Alberta, Canada)
• Sheerness Power Purchase Agreement (Alberta, Canada)

Other projects

• Broadwater LNG: In April 2009, the company announced that it won a contract to build and control a gas pipeline on the Pacific Coast of Mexico.^[19]
• Palomar Gas Transmission Pipeline: The company is partnering with NW Natural in a plan to build a 220-mile (350 km) gas pipeline in Oregon running from the proposed Bradwood Landing LNG terminal to connect with existing pipeline.^[20]

• Energie Cacouna: In February 2008, TCPL announced that it would delay indefinitely its LNG project in fr:Cacouna, Quebec,^[21] while the economy of the project ameliorated.^[22] This project was initiated in 2004, and the environmental and logistical permits were granted in 2006.

Corporate governance

Members of the board of directors of TransCanada are S. Barry Jackson (Chair), Russ Girling (President and CEO), Kevin E. Benson, Derek Burney, John Richels, Paule Gauthier, Paula Rosput Reynolds, Mary Pat Salomone, W. Thomas Stephens, D. Michael G. Stewart and Richard E. Waugh. ^[23]

References

External links

• TransCanada Official Webpage
• TransCanada Careers
• Keystone XL Pipeline Official Website

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