VANCOUVER, British Columbia (B.C.) – September 13, 2018 – Media Advisory – TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) is pleased to announce that its Coastal Gaslink Pipeline Project has signed community and project agreements with all of the elected Indigenous bands along its pipeline route in British Columbia. These agreements, totaling 20 across the province, exemplify the strong Indigenous support received for the proposed natural gas pipeline project in B.C.
“This is an important milestone for the Coastal GasLink team,” said Rick Gateman, president of the Coastal GasLink Pipeline Project. “When we first began this project over six years ago, our goal was to build more than just relationships with First Nations communities in B.C.; it was to build trusted partnerships, and that has made all the difference. We are grateful to these First Nations communities for this opportunity and appreciate the incredible support they have shown us over the years.”
The contracting and employment opportunities along with the long-term benefit programs set forth in the agreements were designed specifically for each community along the route, providing Indigenous groups with job opportunities and sustainable sources of revenue over the life of the project. Support for the agreements comes from the elected leaders of the 20 Indigenous bands indicated below as well as from several traditional and hereditary leaders within these communities. The project continues to hold discussions with some hereditary governance groups and is optimistic that additional agreements may be reached in the near future, should the project receive a positive final investment decision from LNG Canada.
“Today’s announcement is a testament to what we can accomplish when industry and First Nations work together,” said Gary Naziel, councilor, Witset First Nation. “This project will provide jobs, contracts and financial benefits that Witset First Nation can use to enhance programs and initiatives for our citizens, such as language and cultural programs. We look forward to continuing to work together with the Coastal GasLink project toward these common goals.”
In addition to finalizing these agreements, the Coastal GasLink project also awarded approximately $620 million in conditional contracting and employment opportunities to northern Indigenous businesses this past July. That announcement kicked off a series of signing ceremonies hosted by Indigenous communities across the province. The program provided community members, businesses and contractors with an opportunity to participate in communal gatherings, traditional songs and prayers to celebrate the important milestone. The project anticipates another $400 million in contracting opportunities for local and Indigenous businesses during the construction period, bringing the total to approximately $1 billion for B.C.
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The Coastal GasLink Pipeline Project will have an initial capacity of approximately 2.1 billion cubic feet (bcf)/day with the potential for expansion of up to approximately 5 bcf/day, providing natural gas from the Western Canadian basin in northeast B.C. to the West Coast, to meet growing demand in Asian markets. The project has received all required major regulatory permits from the B.C. Environmental Assessment Office and the B.C. Oil and Gas Commission, and is expected to begin construction activities in early 2019 with a planned in-service date of 2023, pending a positive final investment decision from the Joint Venture Participants involved with LNG Canada.
With more than 65 years’ experience, TransCanada is a leader in the responsible development and reliable operation of North American energy infrastructure including natural gas and liquids pipelines, power generation and gas storage facilities. TransCanada operates one of the largest natural gas transmission networks that extends more than 91,900 kilometres (57,100 miles), tapping into virtually all major gas supply basins in North America. TransCanada is a leading provider of gas storage and related services with 653 billion cubic feet of storage capacity. A large independent power producer, TransCanada currently owns or has interests in approximately 6,100 megawatts of power generation in Canada and the United States. TransCanada is also the developer and operator of one of North America’s leading liquids pipeline systems that extends approximately 4,900 kilometres (3,000 miles), connecting growing continental oil supplies to key markets and refineries. TransCanada’s common shares trade on the Toronto and New York stock exchanges under the symbol TRP. Visit TransCanada.com to learn more, or connect with us on social media.
This publication contains certain information that is forward-looking and is subject to important risks and uncertainties (such statements are usually accompanied by words such as “anticipate”, “expect”, “believe”, “may”, “will”, “should”, “estimate”, “intend” or other similar words). Forward-looking statements in this document are intended to provide TransCanada security holders and potential investors with information regarding TransCanada and its subsidiaries, including management’s assessment of TransCanada’s and its subsidiaries’ future plans and financial outlook. All forward-looking statements reflect TransCanada’s beliefs and assumptions based on information available at the time the statements were made and as such are not guarantees of future performance. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this news release, and not to use future-oriented information or financial outlooks for anything other than their intended purpose. TransCanada undertakes no obligation to update or revise any forward-looking information except as required by law. For additional information on the assumptions made, and the risks and uncertainties which could cause actual results to differ from the anticipated results, refer to the Quarterly Report to Shareholders dated August 2, 2018 and 2017 Annual Report filed under TransCanada’s profile on SEDAR at www.sedar.com and with the U.S. Securities and Exchange Commission at www.sec.gov.
Media Inquiries:Jacquelynn Benson403.920.5742 or 800.608.7859