TransCanada, Northwest Natural Gas Form Joint Venture to Construct $225 Million Pipeline in Oregon

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Researched by Industrial Info Resources (Sugar Land, Texas)-- TransCanada Corporation (NYSE:TRP) (Calgary, Alberta) has joined forces with Northwest Natural Gas Company (NYSE:NWN) (Portland, Oregon) to form the Palomar Gas Transmission LLC. The new single-purpose joint venture company is proposing to construct a 220-mile natural gas pipeline to serve the growing markets in Oregon, the Pacific Northwest, and the western U.S. The proposed pipeline will be a 36-inch-diameter pipeline that will originate near Wauna and end at an interconnection with TransCanada's existing GTN Pipeline System near Molalla, Oregon, not far from Northwest Natural's Mist natural gas storage facility.

Palomar Gas Transmission has awarded AMEC Paragon (Houston, Texas) the engineering contract for the front-end engineering & design for the proposed pipeline. The pipeline is in the permitting stage, and as of early September, the Federal Energy Regulatory Commission (FERC) has accepted Palomar's request to initiate the FERC pre-filing review process of the environmental aspects of the proposed pipeline. The pipeline will cross some environmentally sensitive areas, such as wetlands, forest, agricultural lands, as well as some river crossings.

Palomar Transmission Gas Transmission LLC expects to complete the permitting process and begin construction on the pipeline in the first half of 2010 with a completion and start-up date targeted for November 2010. Once completed, the Palomar pipeline will have a transmission capacity of 1 billion cubic feet per day of natural gas. The pipeline will source its gas from the proposed Bradwood Landing pipeline and associated LNG receiving & regasification terminal to be located near Clatskanie, Oregon.

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