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TransCanada to Begin GasLink Pipeline Construction in 2019
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TransCanada Corporation (TRP - Free Report) recently announced that the construction of its Coastal GasLink pipeline is likely to commence in early 2019, subject to a positive final investment decision on the linked LNG Canada project.
The LNG Canada project is a joint venture between Royal Dutch Shell plc , PetroChina Co. Ltd. , Korea Gas Corp and Mitsubishi Corporation with 50%, 20%, 15% and 15% stakes, respectively. The partners in the project have proposed to design and operate an LNG export terminal in Kitimat, British Columbia. The project will likely cost around $32.7 billion and is meant for exporting cheap natural gas from Canada to Asia. Post construction, this project will be able to export up to 24 million tons of liquefied natural gas per year.
While the project had been greenlighted by the environment ministry of Canada in 2015, Shell, along with its partners, has been delaying the final investment decision as the project has become too expensive to proceed with due to a drop in natural gas prices. However, the final investment decision on the project is expected this year, post which the construction of TransCanada’s Coastal GasLink pipeline will begin.
The Coastal GasLink pipeline project worth $3.8 billion will consist of a 415-mile pipeline, with transportation capacity of 5 billion cubic feet per day. Once it comes online, it will be a game changer for the Canadian natural gas producers, transporting natural gas from shale fields in Alberta and northeast British Columbia to the LNG Canada export facility. Being the owner and operator of the pipeline, TransCanada is likely to award contracts for its construction of four consortiums in the next two months.
Cheniere Energy Partners’ 2018 earnings are likely to grow 325.49% year over year.
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TransCanada to Begin GasLink Pipeline Construction in 2019
TransCanada Corporation (TRP - Free Report) recently announced that the construction of its Coastal GasLink pipeline is likely to commence in early 2019, subject to a positive final investment decision on the linked LNG Canada project.
The LNG Canada project is a joint venture between Royal Dutch Shell plc , PetroChina Co. Ltd. , Korea Gas Corp and Mitsubishi Corporation with 50%, 20%, 15% and 15% stakes, respectively. The partners in the project have proposed to design and operate an LNG export terminal in Kitimat, British Columbia. The project will likely cost around $32.7 billion and is meant for exporting cheap natural gas from Canada to Asia. Post construction, this project will be able to export up to 24 million tons of liquefied natural gas per year.
While the project had been greenlighted by the environment ministry of Canada in 2015, Shell, along with its partners, has been delaying the final investment decision as the project has become too expensive to proceed with due to a drop in natural gas prices. However, the final investment decision on the project is expected this year, post which the construction of TransCanada’s Coastal GasLink pipeline will begin.
The Coastal GasLink pipeline project worth $3.8 billion will consist of a 415-mile pipeline, with transportation capacity of 5 billion cubic feet per day. Once it comes online, it will be a game changer for the Canadian natural gas producers, transporting natural gas from shale fields in Alberta and northeast British Columbia to the LNG Canada export facility. Being the owner and operator of the pipeline, TransCanada is likely to award contracts for its construction of four consortiums in the next two months.
Zacks Rank and a Key Pick
TransCanada carries a Zacks Rank #3 (Hold).
TransCanada Corporation Price
TransCanada Corporation Price | TransCanada Corporation Quote
A better-ranked player in the same industry is Cheniere Energy Partners LP Holdings, LLC. , holding a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Cheniere Energy Partners’ 2018 earnings are likely to grow 325.49% year over year.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>