TransCanada aims for LNG

Article Excerpt

TRANSCANADA CORP. $62.06 (Toronto symbol TRP; Shares outstanding: 800.3 million; Market cap: $53.4 billion; TSINetwork Rating: Above Average; Dividend yield: 4.0%; www. transcanada.com) recently secured the necessary commitments from shippers to proceed with its North Montney Mainline pipeline. This 301-kilometre line would pump natural gas from northeastern B.C. to a proposed liquefied natural gas (LNG) terminal near Prince Rupert, B.C. From there, tankers would ship the LNG to markets in Asia. The new pipeline should cost $1.4 billion. TransCanada must still wait for the companies building the LNG facility—a group led by Malaysia’s national energy firm Petronas—to make a final decision. If they go ahead with the project, its new pipeline could begin operating in 2019. TransCanada is a buy. buy…