TransCanada Corporation

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TransCanada Corporation
TypePublic
Traded asTSXTRP
NYSETRP
S&P/TSX 60 component
IndustryOil and gas
Electricity
Founded1951
HeadquartersCalgary, Alberta, Canada
Key peopleRuss Girling, President and CEO
ProductsElectric power
ServicesPipeline transport
Natural gas storage
Employees4,800[1]
Websitewww.transcanada.com
 
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TransCanada Corporation
TypePublic
Traded asTSXTRP
NYSETRP
S&P/TSX 60 component
IndustryOil and gas
Electricity
Founded1951
HeadquartersCalgary, Alberta, Canada
Key peopleRuss Girling, President and CEO
ProductsElectric power
ServicesPipeline transport
Natural gas storage
Employees4,800[1]
Websitewww.transcanada.com
TransCanada Tower, company head office in Calgary

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 400 billion cubic feet (1.1×1010 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[edit]

Wholly owned pipelines:

Affiliated pipelines:

Keystone Pipeline[edit]

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[edit]

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[edit]

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[edit]

Other projects[edit]

Corporate governance[edit]

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[edit]

  1. ^ [1]
  2. ^ TransCanada Power Marketing - About Us
  3. ^ Kilbourn, William (1970). Pipeline: TransCanada and the Great Debate. p. 29. 
  4. ^ NASDAQ: "TransCanada Corporation Institutional Ownership"
  5. ^ http://www.kxii.com/home/headlines/Lamar-County-landowner-appeals-TransCanada-pipeline-217699311.html
  6. ^ "Eminent Domain Fight Has a Canadian Twist". New York Times. Oct 17, 2011. 
  7. ^ "Keystone pipeline clears a hurdle". Washington Post. Aug 22, 2012. 
  8. ^ "Protesters in Texas climb trees to block pipeline work". Houston Chronicle. September 25, 2012. 
  9. ^ "Daryl Hannah freed following arrest in pipeline protest". Chicago Sun-Times. Oct 6, 2012. 
  10. ^ a b c "TransCanada Selected to Develop $6 Billion in Natural Gas Infrastructure to Prince Rupert, British Columbia" (news release). TransCanada. January 9, 2013. Retrieved June 12, 2013. 
  11. ^ a b "TransCanada Selected by Shell and Partners to Develop Multi-Billion Dollar Natural Gas Pipeline to Canada’s West Coast" (news release). TransCanada. June 5, 2012. Retrieved June 12, 2013. 
  12. ^ a b Lauren Krugel (January 9, 2013). "TransCanada to build $5-billion shale gas pipeline project near Prince Rupert" (blog). The Tyee. Retrieved June 12, 2013. 
  13. ^ "Home page". Coastal GasLink Pipeline Ltd., a wholly owned subsidiary of TransCanada PipeLines Limited. Retrieved June 12, 2013. "Coastal GasLink Pipeline Ltd., a wholly owned subsidiary of TransCanada PipeLines Limited, proposes to develop a natural gas pipeline from northeast B.C. to the west coast of B.C. to serve export markets." 
  14. ^ Coastal GasLink Pipeline project description
  15. ^ Nathan VanderKlippe (June 5, 2012). "TransCanada wins $4-billion pipeline contract". The Globe and Mail. Retrieved June 12, 2013. 
  16. ^ Darren Campbell (January 9, 2013). "B.C. LNG exports take a step forward with TransCanada announcement: TCPL to build $5.1 billion pipeline that will feed coastal terminal". Alberta Oil Magazine. Retrieved June 12, 2013. 
  17. ^ "TransCanada Corp And Phoenix Energy Holdings Ltd. Form Joint Venture To Develop Grand Rapids Pipeline System"
  18. ^ http://www.lapresse.ca/le-soleil/affaires/actualite-economique/201307/31/01-4675921-becancour-1-milliard-pour-une-centrale-au-gaz-fermee.php
  19. ^ "Otras noticias internacionales". The Wall Street Journal. 2009-05-07. 
  20. ^ Palomar website
  21. ^ Bourque (8 fevrier 2008). "Petro-Canada suspend le projet de Gros Cacouna". La Presse. ISSN 0317-9249.  Check date values in: |date= (help)
  22. ^ Cousineau (16 fevrier 2008). "Tout cela pour cela?". La Presse. ISSN 0317-9249.  Check date values in: |date= (help)
  23. ^ "Board of Directors". Retrieved October 3, 2014. 

External links[edit]