TRP links up with PetroChina

Article Excerpt

TRANSCANADA CORP. $47.25 (Torontosymbol TRP; Shares outstanding: 705.1 million;Market cap: $33.3 billion; TSINetwork Rating:Above Average; Dividend yield: 3.7%;www.transcanada.com) has formed a 50/50 jointventure with privately held Phoenix EnergyHoldings Ltd., a wholly owned subsidiary ofPetroChina Co. Ltd. (New York symbol PTR).The partners plan to build a 500-kilometrepipeline that would pump crude oil from Phoenix’soil sands properties in northern Alberta toEdmonton. TransCanada will operate the newpipeline.TransCanada’s share of the project’s $3.0-billion cost is $1.5 billion. The partners aim tobegin construction in 2014, and the pipelineshould start up in early 2017.TransCanada is a buy. buy…