TransCanada reviewing PGRT options following PNW LNG cancellation

TransCanada is reviewing its options related to the Prince Rupert Gas Transmission project following the decision by Petronas and partners to scrap the Pacific NorthWest LNG project. 

In a comment following Petronas’ decision, Karl Johannson, TransCanada’s executive vice-president and president, Canada and Mexico natural gas pipelines and energy, said, “as part of our agreement with Petronas affiliate, Progress Energy, following receipt of a termination notice, TransCanada would be reimbursed for the full costs and carrying charges incurred to advance the PRGT project.”

He noted the PGRT project signed 14 project agreements with First Nations and has also secured regulatory approvals and permits.

Johannson said TransCanada is looking to continue the development of natural gas assets, including the North Montney Mainline project.

“This important project is backed by independent 20-year commercial service agreements with 11 shippers, including Progress Energy, and pending regulatory approvals, we remain ready to move forward,” he said.