Coastal GasLink Pipeline Project Signs Three More Project Agreements With First Nations in Northern B.C.
PRINCE GEORGE, BRITISH COLUMBIA--(Marketwired - Dec. 10, 2015) - TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) today announced that its Coastal GasLink Pipeline Project has signed long-term project agreements with the Burns Lake Indian Band, Blueberry River First Nations (a participant in the historic Treaty 8), and Lheidli T'enneh First Nation. These agreements outline financial and other benefits and commitments that will be provided to these communities for as long as the pipeline project is in service.
"These agreements are a reflection of the meaningful way Aboriginal groups are choosing to participate in the long-term development of B.C.'s natural gas industry," said Rick Gateman, Coastal GasLink Pipeline Project president. "Their important contributions to our project allow us to incorporate their local knowledge into our planning and pipeline design, which is a priority for us. Their participation in these agreements makes Coastal GasLink a better project, and enables them to participate in the significant benefits coming from the project."
This brings the total to nine project agreements that are the direct result of Coastal GasLink's comprehensive approach to working with Aboriginal groups on opportunities related to B.C.'s emerging liquefied natural gas (LNG) industry, including developing skills training, employment and utilizing Aboriginal businesses in local contracting opportunities.
"The project agreement reflects that we can collaborate with companies like Coastal GasLink, and participate in the many benefits of the project," said Chief Dan George of Burns Lake Indian Band. "It's important to us to find ways to balance the economic opportunity with environmental protection."
"We believe the pipeline project will benefit our members today and for future generations, both financially and in terms of employment for our members," said Chief Marvin Yahey of Blueberry River First Nation. "The relationship we have established with TransCanada is just as important as the agreement, and we are confident that the relationship we have built will continue to the benefit of both parties for years to come."
"We welcome the opportunity to be an active partner of Coastal GasLink," said Chief Dominic Frederick of Lheidli T'enneh. "We look forward to our members further participating in skills development and environmental stewardship opportunities that form part of the comprehensive agreement."
To date, the Coastal GasLink team has had almost 15,000 interactions and engagements with Aboriginal communities along the proposed pipeline route, and a quarter of the over 333,000 hours of fieldwork on the project has been conducted by Aboriginal people. In addition, this modern energy infrastructure project will provide long-term economic benefits for B.C. and Canada. An estimated 32 per cent of this $4.8 billion plus capital project will be spent locally in B.C., with economic benefits including over 2,000 jobs during construction and over $20 million in annual property tax payments. The project has already spent over $41 million in Northern B.C. plus over $1.9 million in community investments along the route.
Coastal GasLink is proposing to construct and operate a 670-kilometre natural gas pipeline from the Groundbirch area near Dawson Creek, B.C. to the proposed LNG Canada liquefied natural gas export facility near Kitimat, B.C. The project is a key component of TransCanada's capital growth plan, which includes more than $13 billion in proposed natural gas pipeline projects which support the emerging liquefied natural gas industry on the B.C. Coast.
Project details can be found at www.coastalgaslink.com. Follow Coastal GasLink on Twitter at @CoastalGasLink.
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 a network of natural gas pipelines that extends more than 68,000 kilometres (42,100 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 368 billion cubic feet of storage capacity. A growing independent power producer, TransCanada owns or has interests in over 11,500 megawatts of power generation in Canada and the United States. TransCanada is developing one of North America's largest liquids delivery systems. TransCanada's common shares trade on the Toronto and New York stock exchanges under the symbol TRP. Visit TransCanada.com and our blog to learn more, or connect with us on social media and 3BL Media.
FORWARD LOOKING INFORMATION
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 November 2, 2015 and 2014 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.
Source: Marketwired (Canada)
(December 10, 2015 - 9:00 AM EST)
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