Coastal GasLink Pipeline Project Signs Project Agreements with Six British Columbia First Nations
KITIMAT, BRITISH COLUMBIA--(Marketwired - June 29, 2015) - TransCanada (TSX:TRP) (NYSE:TRP) (TransCanada) today announced its Coastal GasLink Pipeline Project has signed project agreements with Wet'suwet'en First Nation, Skin Tyee Nation, Nee-Tahi-Buhn Band, Yekooche First Nation, Doig River First Nation, and Halfway River First Nation, all of northern B.C. These agreements are a positive step for the project and these First Nations, whose traditional and treaty territories are located along the proposed Coastal GasLink natural gas pipeline route.
"These agreements reinforce the strong relationships we have built with these First Nations communities, and demonstrate their willingness to participate in the many benefits this project will bring to their people, both today and well into the future," said Rick Gateman, president, Coastal GasLink Pipeline Project. "This isn't a choice between economics and culture, environment and a traditional way of life for First Nations communities. These agreements highlight how First Nations communities can enjoy the economic benefits of the project while continuing to live their way of life."
The project agreements include various financial and other benefits related to the pipeline project. The agreements are part of the Coastal GasLink's long-term, comprehensive approach to working with Aboriginal groups on opportunities related to B.C.'s emerging liquefied natural gas (LNG) industry, including developing skills training, employment and utilizing Aboriginal businesses in contracting opportunities.
Twenty seven per cent of over 300,000 hours of fieldwork on the project has been conducted by Aboriginals. This important input allows the project to incorporate local knowledge into the pipeline's design, including routing and site-specific mitigation plans, which are priorities for Coastal GasLink.
The modern energy infrastructure project will provide long-term economic benefits for B.C. and Canada. An estimated 32 per cent of the $4.8 billion capital project will be spent locally in British Columbia, with economic benefits including over 2,000 jobs during construction and approximately $20 million in annual property tax payments. To date, over $38 million has already been spent in Northern B.C. along with $1.5 million invested in community initiatives along the proposed route, and more is planned.
Coastal GasLink is proposing to construct and operate a 670-kilometre natural gas pipeline from the Groundbirch area near Dawson Creek, B.C. to the proposed LNG Canada liquefied natural gas export facility near Kitimat, B.C. The project is a key component of TransCanada's $46 billion capital growth plan, which includes more than $13 billion in proposed natural gas pipeline projects which support the emerging liquefied natural gas industry on the British Columbia Coast.
With more than 60 years' experience, TransCanada is a leader in the responsible development and reliable operation of North American energy infrastructure including natural gas and liquids pipelines, power generation and gas storage facilities. TransCanada operates a network of natural gas pipelines that extends more than 68,000 kilometres (42,100 miles), tapping into virtually all major gas supply basins in North America. TransCanada is one of the continent's largest providers of gas storage and related services with 368 billion cubic feet of storage capacity. A growing independent power producer, TransCanada owns or has interests in over 10,900 megawatts of power generation in Canada and the United States. TransCanada is developing one of North America's largest liquids delivery systems. TransCanada's common shares trade on the Toronto and New York stock exchanges under the symbol TRP. Visit TransCanada.com and our blog to learn more, or connect with us on social media and 3BL Media.
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