TransCanada Announces Completion of the Guadalajara Pipeline
CALGARY, ALBERTA--(Marketwire - June 20, 2011) - TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) today announced that its US$360 million Guadalajara Pipeline has been completed. The entire capacity of the 307-kilometre (192-mile), 30-inch-diameter pipeline is held under a 25-year contract with Comisión Federal de Electricidad (CFE), Mexico's state-owned electric company.
"The Guadalajara pipeline represents key infrastructure that will allow CFE to continue developing a natural gas-fired electricity generation fleet in the rapidly growing central region of Mexico," said Russ Girling, TransCanada president and chief executive officer. "We are very pleased to be part of this overall development plan."
"Completion of the Guadalajara pipeline represents another milestone in TransCanada's ongoing capital program," Girling continued. "Guadalajara is TransCanada's second pipeline investment in Mexico and highlights our ability to complete pipeline projects in the country which positions us well for future opportunities."
The Guadalajara pipeline connects to an LNG regasification facility located near Manzanillo, in the state of Colima. It has a capacity to transport 500 million cubic feet of natural gas per day to a nearby CFE owned power plant and 320 million cubic feet per day to the Pemex-owned national pipeline system near Guadalajara, in the state of Jalisco.
TransCanada has put into service seven other major projects in the last year. The Keystone Pipeline System Phases I & II are delivering oil; the Groundbirch and Bison natural gas pipelines are transporting natural gas to market; Maine's largest wind project - Kibby Wind - became fully operational in late October; and the Halton Hills Generating Station in Ontario and Coolidge Generating Station in Arizona have begun producing power.
With more than 60 years experience, TransCanada is a leader in the responsible development and reliable operation of North American energy infrastructure including natural gas and oil pipelines, power generation and gas storage facilities. TransCanada's network of wholly owned natural gas pipelines extends more than 57,000 kilometres (35,500 miles), tapping into virtually all major gas supply basins in North America. TransCanada is one of the continent's largest providers of gas storage and related services with approximately 380 billion cubic feet of storage capacity. A growing independent power producer, TransCanada owns, or has interests in, over 10,800 megawatts of power generation in Canada and the United States. TransCanada is developing one of North America's largest oil delivery systems. TransCanada's common shares trade on the Toronto and New York stock exchanges under the symbol TRP. For more information visit: www.transcanada.com.
Terry Cunha/Shawn Howard
403.920.7859 or 800.608.7859
Investor & Analyst Enquiries:
David Moneta/Terry Hook/Lee Evans
403.920.7911 or 800.361.6522