TransCanada says Bison natural gas line in service

Tue Jan 18, 2011 1:28pm EST
 
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CALGARY, Alberta (Reuters) - TransCanada Corp said on Tuesday its $600 million Bison pipeline began operating last week, capable of carrying 407 million cubic feet of natural gas a day from the U.S. Rocky Mountain region to the Midwest.

Bison runs 303 miles from northeastern Wyoming to a connection with the company's Northern Border pipeline in North Dakota.

TransCanada said the all of the line's capacity is booked under long-term contracts. A spokesman said the line was currently carrying 203 million cubic feet per day with flows ramping up to 350 mmcfd or more later this week. It can be expanded to carry 1 billion cubic feet per day by adding additional compression if demand warrants.

The line became operational on Friday, the company said.

TransCanada shares rose 19 Canadian cents to C$37.34 early on Tuesday afternoon on the Toronto Stock Exchange.

(Reporting by Scott Haggett; editing by Rob Wilson)