TransCanada to build $5 billion gas pipeline

Progress Energy Canada selected TransCanada to design, build, own, and operate the proposed $5 billion Prince Rupert gas transmission project. The proposed pipeline will carry natural gas primarily from the North Montney gas-producing region near Fort St. John, B.C., to the Pacific Northwest liquefied natural gas (LNG) export facility in Port Edward near Prince Rupert, B.C. Progress and TransCanada expect to finalize definitive agreements in early 2013.