13 Project Agreements Completed with First Nations Along Coastal GasLink Pipeline Route
PRINCE GEORGE, BRITISH COLUMBIA--(Marketwired - May 26, 2016) - Media Advisory -- TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) today announced that its Coastal GasLink pipeline project now has 13 signed project agreements with First Nations and is in continuing consultation with an additional eight First Nations along the proposed pipeline route. Kitselas First Nation and McLeod Lake Indian Band are among the latest First Nations to have signed agreements that outline benefits and commitments that will be provided to these communities during construction and for as long as the pipeline is in service.
"These groups have demonstrated their desire to contribute meaningfully and constructively throughout the life cycle of this project," said Rick Gateman, Coastal GasLink pipeline project president. "Our relationship with them, and the knowledge we have gained about their traditional use of the land, makes Coastal GasLink a better project."
Coastal GasLink has a 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 local contracting opportunities.
"We look forward to continuing our relationship with the Coastal GasLink team. We believe that meaningful participation can work to the benefit of our members and the project, and that we can achieve balance with protecting our environment," said Chief Joe Bevan, Kitselas First Nation.
Agreements vary, and enable First Nations to allocate the benefits in areas that are of most importance to their community. Some benefits could include training and education, provisions for a liaison committee to maintain ongoing relationships between Coastal GasLink and the First Nation, or designated contracting opportunities specific to the community that has signed the agreement.
To date, the Coastal GasLink team has had over 15,000 interactions and engagements with Aboriginal communities along the proposed pipeline route, and over a third of the 350,000+ hours of fieldwork on the project have been conducted by Aboriginal people. In addition, this modern energy infrastructure project will provide long-term economic benefits for B.C. and Canada. An estimated 32 per cent of this $4.8 billion plus capital project will be spent locally in B.C., with economic benefits including over 2,000 jobs during construction and over $20 million in annual property tax payments. The project has already spent almost $48 million in Northern B.C. plus over $2 million in community and aboriginal investments along the route.
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 capital growth plan, which includes more than $13 billion in proposed natural gas pipeline projects in the province of British Columbia.
With more than 65 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 66,400 kilometres (41,300 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 10,500 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.
FORWARD LOOKING INFORMATION
This publication contains certain information that is forward-looking and is subject to important risks and uncertainties (such statements are usually accompanied by words such as "anticipate", "expect", "believe", "may", "will", "should", "estimate", "intend" or other similar words). Forward-looking statements in this document are intended to provide TransCanada security holders and potential investors with information regarding TransCanada and its subsidiaries, including management's assessment of TransCanada's and its subsidiaries' future plans and financial outlook. All forward-looking statements reflect TransCanada's beliefs and assumptions based on information available at the time the statements were made and as such are not guarantees of future performance. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this news release, and not to use future-oriented information or financial outlooks for anything other than their intended purpose. TransCanada undertakes no obligation to update or revise any forward-looking information except as required by law. For additional information on the assumptions made, and the risks and uncertainties which could cause actual results to differ from the anticipated results, refer to TransCanada's First Quarter Report to Shareholders dated April 28, 2016 and 2015 Annual Report on our website at www.transcanada.com or filed under TransCanada's profile on SEDAR at www.sedar.com and with the U.S. Securities and Exchange Commission at www.sec.gov.
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