October 31, 2018 / 10:37 PM / 8 months ago

TransCanada to further expand Canada gas line system

FILE PHOTO: A depot used to store pipes for Transcanada Corp's planned Keystone XL oil pipeline is seen in Gascoyne, North Dakota, January 25, 2017. REUTERS/Terray Sylvester

CALGARY, Alberta (Reuters) - TransCanada Corp said on Wednesday it was moving ahead with a C$1.5 billion ($1.14 billion) expansion of its Western Canadian gas pipeline system, further boosting access for producers in Alberta and British Columbia’s rich gas plays.

The latest investment increases expansion spending on the NOVA Gas Transmission line (NGTL) to more than C$9 billion, TransCanada said.

The expansion, which will connect producers in the gas-rich Montney and Deep Basin regions with industrial customers in Alberta, is underpinned by roughly 1.1 billion cubic feet per day (bcfd) of new service contracts, TransCanada said.

Construction on the 197 kilometer (122 miles) pipeline could start as soon as the third quarter of 2020, pending regulatory approvals.

TransCanada is set to report its third-quarter earnings before the market opens on Thursday.

Reporting by Julie Gordon in Vancouver; Editing by Richard Chang

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