Government of British Columbia : Pipeline investment will stimulate jobs, economic growth
VICTORIA - The Province welcomes today's news that TransCanada Corporation (TransCanada) has filed a variance application with the National Energy Board to proceed with the construction of the North Montney Mainline (NMML) project.
If the application is approved, TransCanada will be able to move forward with the construction of the pipeline - an estimated $1.4 billion investment - prior to a final investment decision (FID) by Pacific NorthWest LNG. Federal approval was originally provided for the NMML, conditional on a FID on the entire Pacific NorthWest LNG project. Now, TransCanada has firm commitments in place so the proposal can move forward earlier.
The NMML will offer significant economic benefits to British Columbia's economy and will secure construction and employment opportunities throughout the province. TransCanada will require equipment operators, welders, mechanics, truck drivers, labourers and more to complete the project. In all, approximately 4,100 person-years of full-time employment will be created, with thousands of additional induced and indirect jobs expected. The majority of the employment will be in British Columbia.
Taxes generated from construction and operation of the NMML also will support important government services such as health care and education.
TransCanada's decision to move ahead with the NMML project before Pacific Northwest LNG makes its FID demonstrates the competitiveness of the Montney Formation in British Columbia, and expedites B.C.'s ability to supply affordable, abundant and clean natural gas to North America and global markets.
The provincial government issued an environmental assessment certificate for the NMML project on Jan. 26, 2017. There were 21 conditions imposed on the pipeline as part of British Columbia's approval, strengthening safety and environmental management.
Subject to final regulatory approvals, the NMML project could begin construction in the first half of 2018.
Rich Coleman, Deputy Premier and Minister of Natural Gas Development -
'This is another significant development for the natural gas industry, showcasing both the market interest and economic advantage of our province's most-promising resource plays. Our government welcomes TransCanada's commitment to invest in this pipeline, securing a stronger future for First Nations and communities across the province.'
- TransCanada has operated for more than 65 years.
- The company operates a network of natural gas pipelines that extends more than 91,000 kilometres across North America.
- British Columbia has over 3,400 trillion cubic feet of natural gas resources - enough to support domestic and international market demands for 150 years or more.
TransCanada Corporation: http://www.transcanada.com/
Today's news release from the TransCanada Corporation can be found at: http://www.transcanada.com/announcements-article.html?id=2132132&t