Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Toronto Stock Exchange  >  TransCanada Corporation    TRP   CA89353D1078

TRANSCANADA CORPORATION (TRP)
Mes dernières consult.
Most popular
Report
SummaryChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

TransCanada : seeks pipe approval linked to Petronas LNG terminal

share with twitter share with LinkedIn share with facebook
share via e-mail
0
03/20/2017 | 11:55pm CET
FILE PHOTO --  A logo of a Petronas fuel station is seen against a darkening sky in Kuala Lumpur

Transcanada Corp has secured shippers' commitment for a pipeline associated with Malaysian state-owned oil company Petronas' pending Pacific NorthWest liquefied natural gas (LNG) terminal in western Canada and targets 2018 for construction, the company said on Monday.

Government construction approval will allow the company to start building most of the North Montney Mainline before majority owner Petroliam Nasional Bhd, or Petronas, decides whether to commit to the project, TransCanada said in a statement.

The pipeline, however, is independent of Pacific NorthWest and "should not be interpreted as changing any aspect of the decision process," spokesman Shawn Howard said in a statement.

North Montney was to provide gas to Pacific NorthWest, but it also connects to existing systems to serve a wide range of markets.

"This includes deliveries to the oil sands, local distribution companies, eastern Canada, the U.S. Midwest or to California," Howard said.

Canadian gas producers have been increasingly squeezed from the lucrative eastern market by U.S. rivals, which have lower transportation costs, and have been looking for growth in the Asian market through LNG exports.

But while the Canadian government has green-lit the C$36 billion ($27.25 billion) Pacific NorthWest project in northern British Columbia, Petronas has put off a decision on whether to proceed with it.

Asked on Monday whether Petronas has given TransCanada any assurances on commitment, Pacific NorthWest referred questions to Progress Energy Canada Ltd, a subsidiary of Petronas, which said it supports North Montney.

Progress did not provide details on Petronas' investment decision or its timeline. The state oil company did not immediately respond to a request for comment.

Canada's approval for the project came last year after a three-year wait. Analysts have been skeptical about its prospects, given current low gas prices and cost-cutting at Petronas.

The project has also faced opposition from environmental and aboriginal groups, some of which have sued.

Late last year, media reports said Petronas had identified a new location for the plant to cut costs and address environmental concerns. But the company has been mum about its intentions, saying only that it will study market conditions before determining its next steps.

TransCanada in its statement said construction will cost about C$1.4 billion ($1.05 billion), and it has secured 20-year contracts with 11 shippers for approximately 1.5 million gigajoules per day of gas.

"TransCanada plans to begin construction in the first half of 2018, with facilities being phased into service over a two-year period, beginning in April 2019," the company said.

TransCanada was previously granted government approval for North Montney on condition of a positive final investment decision on Pacific NorthWest.

Privately held Black Swan Energy Ltd confirmed it will be a shipper on North Montney.

(Reporting by Ethan Lou; Editing by Dan Grebler and Leslie Adler)

By Ethan Lou

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on TRANSCANADA CORPORATION
07:09a Canada oil producers exhaust options as pipelines, railroads fill
12/16 TRANSCANADA : Letters to the Editor - Dec. 17
12/14 TRANSCANADA : Newbury, Vt., Wins Dam Lawsuit
12/12 TRANSCANADA : meeting with landowners along Keystone XL route
12/12 TRANSCANADA : Keystone is anti-hydrocarbon zealotry in microcosm
12/12 TRANSCANADA : Washington County commissioners sharing residents' pipeline concer..
12/12 Heavy slumps to deepest discount since 2014
12/11 TRANSCANADA : Pipeline construction to pass through Gallia
12/11 TRANSCANADA : Letter to the Editor - Dec. 12
12/11 TRANSCANADA : Landowners invited to informational meeting on Buckeye Xpress Pipe..
More news
News from SeekingAlpha
12/13 WALL STREET BREAKFAST : Fed Decision, Outlook On Watch
12/12 TransCanada to seek amended Keystone pipeline application in Nebraska
12/12 How To Profit On The Cove Point LNG Export Terminal
12/12 Canadian oil plunges to three-year-low on pipeline, rail bottleneck
12/11 TransCanada's Outlook Is Favorable With Near-Term Projects And Keystone XL Pr..
Financials ( CAD)
Sales 2017 12 790 M
EBIT 2017 5 023 M
Net income 2017 2 570 M
Debt 2017 45 759 M
Yield 2017 4,06%
P/E ratio 2017 21,83
P/E ratio 2018 18,11
EV / Sales 2017 7,80x
EV / Sales 2018 8,10x
Capitalization 54 048 M
Chart TRANSCANADA CORPORATION
Duration : Period :
TransCanada Corporation Technical Analysis Chart | TRP | CA89353D1078 | 4-Traders
Technical analysis trends TRANSCANADA CORPORATION
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 71,0  CAD
Spread / Average Target 15%
EPS Revisions
Managers
NameTitle
Russell K. Girling President, CEO & Non-Independent Director
Siim Alden Vanaselja Chairman
Donald R. Marchand CFO & Executive VP-Corporate Development
Steven Barry Jackson Independent Director
Kevin E. Benson Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
TRANSCANADA CORPORATION1.25%42 023
ENBRIDGE INC-12.44%64 144
ENTERPRISE PRODUCTS PARTNERS L.P.-3.51%56 067
KINDER MORGAN INC-13.42%40 042
WILLIAMS COMPANIES-4.53%24 579
ENERGY TRANSFER PARTNERS LP-27.14%20 221