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Researched by Industrial Info Resources (Sugar Land, Texas)--TransCanada Corporation (NYSE:TRP) reports that it spent approximately C$2.5 billion ($1.97 billion) in capital spending in the third quarter of this year. A decision on the possible completion of one of TransCanada's most controversial projects, the Keystone XL crude oil pipeline is expected from the Nebraska Public Service Commission (PSC) by the end of this month.
In a conference call, TransCanada Chief Executive Officer Russ Girling explained the Keystone XL situation: "Earlier this year, we filed an application with the Nebraska Service Public Commission seeking approval for the pipeline route through the state of Nebraska. A public hearing on our application was held in August, and the final written submissions were made in September of this year. The Nebraska PSC is reviewing all of the comments, and a final decision is expected by the end of November." Girling said TransCanada was in the process of evaluating results of an open season that lasted from July into October this year for the Keystone and Keystone XL systems. "Overall, we anticipate the support for the project to be substantially similar to that which existed when we first applied," before the pipeline was denied a presidential permit by the Obama administration in November 2015. For more information, see Industrial Info's project report on the Nebraska section of the pipeline.
Among the company's recent highlights discussed by Girling was the placing in service earlier this month of the Rayne Xpress natural gas pipeline, to which the Federal Energy Regulatory Commission (FERC) gave the green light. The Rayne Xpress project involves enhancing an existing natural gas pipeline with new compressor stations to add 1 billion cubic feet per day (Bcf/d) of capacity to flow to the Gulf Coast. The project had a total investment value of $400 million. For more information, see Industrial Info's project reports on the grassroot compressor stations near Means and Grayson in Kentucky.
"We also expect the $1.6 billion U.S. Leach XPress project to enter service in early January 2018," said Girling. The Leach Xpress project involves construction of approximately 160 miles of natural gas pipeline in Ohio, Pennsylvania and West Virginia. The pipeline will be able to transport up to 1.5 Bcf/d of natural gas. Construction on the project began earlier this year. Price Gregory International (Houston, Texas) is the general contractor. For more information, see Industrial Info's project reports on the Ohio, Pennsylvania and West Virginia sections of the pipeline.
Girling said that with a FERC quorum reinstated, the company hoped to have approval for the construction of the Mountaineer XPress and Gulf XPress natural gas projects in the fourth quarter of this year. The Mountaineer XPress Pipeline will include 165 miles of natural gas pipeline in West Virginia to increase capacity by 2.7 billion Bcf/d to serve growing communities in the state. For more information, see Industrial Info's project report.
The Gulf Xpress project includes the addition of seven new compressor stations in Kentucky, Tennessee and Mississippi to increase reliability and access to gas shipped from the Appalachian Basin. The project has a total investment value of $375.5 million. For more information, see Industrial Info's project reports on the additions of compressor stations in Kentucky near Morehead, Edmonton, Grayson and Lancaster.
Work also continues on the company's major projects in Mexico. "In Mexico, we continue to advance the Tula-Villa de Reyes project and Sur de Texas projects that will see us invest approximately $2.5 billion ... with approximately $1.6 billion having been spent to date," said Girling. TransCanada's Tula-Villa de Reyes grassroot natural gas pipeline will include 260 miles of 36-inch pipeline to transport up to 886 million cubic feet per day of natural gas from Tula to Villa de Reyes in central Mexico. The project kicked off construction in late 2016 and is expected to be complete in early 2018. For more information, see Industrial Info's project report.
TransCanada's Sur de Texas project is a subsea natural gas pipeline that will carry 2.6 Bcf/d of natural gas from the U.S. border in Texas through the Gulf of Mexico to Tuxpan, Mexico. The project began construction earlier this year and is expected to be completed in late 2018. For more information, see Industrial Info's project report. Industrial Info is tracking $19.9 billion in active TransCanada projects.
TransCanada reported net income of C$612 million ($484.8 million) in third-quarter 2017, compared with a net loss of $135 million ($106.5 million) in the same quarter of 2016. Industrial Info is tracking $19.9 billion in active TransCanada projects.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
In a conference call, TransCanada Chief Executive Officer Russ Girling explained the Keystone XL situation: "Earlier this year, we filed an application with the Nebraska Service Public Commission seeking approval for the pipeline route through the state of Nebraska. A public hearing on our application was held in August, and the final written submissions were made in September of this year. The Nebraska PSC is reviewing all of the comments, and a final decision is expected by the end of November." Girling said TransCanada was in the process of evaluating results of an open season that lasted from July into October this year for the Keystone and Keystone XL systems. "Overall, we anticipate the support for the project to be substantially similar to that which existed when we first applied," before the pipeline was denied a presidential permit by the Obama administration in November 2015. For more information, see Industrial Info's project report on the Nebraska section of the pipeline.
Among the company's recent highlights discussed by Girling was the placing in service earlier this month of the Rayne Xpress natural gas pipeline, to which the Federal Energy Regulatory Commission (FERC) gave the green light. The Rayne Xpress project involves enhancing an existing natural gas pipeline with new compressor stations to add 1 billion cubic feet per day (Bcf/d) of capacity to flow to the Gulf Coast. The project had a total investment value of $400 million. For more information, see Industrial Info's project reports on the grassroot compressor stations near Means and Grayson in Kentucky.
"We also expect the $1.6 billion U.S. Leach XPress project to enter service in early January 2018," said Girling. The Leach Xpress project involves construction of approximately 160 miles of natural gas pipeline in Ohio, Pennsylvania and West Virginia. The pipeline will be able to transport up to 1.5 Bcf/d of natural gas. Construction on the project began earlier this year. Price Gregory International (Houston, Texas) is the general contractor. For more information, see Industrial Info's project reports on the Ohio, Pennsylvania and West Virginia sections of the pipeline.
Girling said that with a FERC quorum reinstated, the company hoped to have approval for the construction of the Mountaineer XPress and Gulf XPress natural gas projects in the fourth quarter of this year. The Mountaineer XPress Pipeline will include 165 miles of natural gas pipeline in West Virginia to increase capacity by 2.7 billion Bcf/d to serve growing communities in the state. For more information, see Industrial Info's project report.
The Gulf Xpress project includes the addition of seven new compressor stations in Kentucky, Tennessee and Mississippi to increase reliability and access to gas shipped from the Appalachian Basin. The project has a total investment value of $375.5 million. For more information, see Industrial Info's project reports on the additions of compressor stations in Kentucky near Morehead, Edmonton, Grayson and Lancaster.
Work also continues on the company's major projects in Mexico. "In Mexico, we continue to advance the Tula-Villa de Reyes project and Sur de Texas projects that will see us invest approximately $2.5 billion ... with approximately $1.6 billion having been spent to date," said Girling. TransCanada's Tula-Villa de Reyes grassroot natural gas pipeline will include 260 miles of 36-inch pipeline to transport up to 886 million cubic feet per day of natural gas from Tula to Villa de Reyes in central Mexico. The project kicked off construction in late 2016 and is expected to be complete in early 2018. For more information, see Industrial Info's project report.
TransCanada's Sur de Texas project is a subsea natural gas pipeline that will carry 2.6 Bcf/d of natural gas from the U.S. border in Texas through the Gulf of Mexico to Tuxpan, Mexico. The project began construction earlier this year and is expected to be completed in late 2018. For more information, see Industrial Info's project report. Industrial Info is tracking $19.9 billion in active TransCanada projects.
TransCanada reported net income of C$612 million ($484.8 million) in third-quarter 2017, compared with a net loss of $135 million ($106.5 million) in the same quarter of 2016. Industrial Info is tracking $19.9 billion in active TransCanada projects.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
