TransCanada seeks to reduce mainline tolls

Thu Sep 1, 2011 6:56pm EDT
 
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Bangalore (Reuters) - TransCanada Corp said it seeks to reduce tolling on its mainline to bring down the cost of transporting gas from the western Canada sedimentary basin to its downstream markets by nearly a third.

The company said it has filed a proposal with the National Energy Board to reduce tolls from its gas-trading hub in Alberta to a gas storage facility in Dawn, Ontario, to $1.41 per gigajoule from $2.08 per gigajoule.

TransCanada's 57,000 kilometre gas pipeline network taps into all major gas supply basins in North America.

Shares of the company closed at C$42.09 on Thursday on the Toronto Stock Exchange.

(Reporting by Arnav Das Sharma in Bangalore; Editing by Joyjeet Das)