TransCanada Applies for Keystone XL Route Approval in Nebraska
LINCOLN, NEBRASKA--(Marketwired - Feb. 16, 2017) - Media Advisory - TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) today announced it has filed an application with the Nebraska Public Service Commission (PSC) seeking approval for the Keystone XL pipeline route through the state.
"This application has been shaped by direct, on-the-ground input from Nebraskans," said Russ Girling, TransCanada's president and chief executive officer. "The thousands of Nebraskans we have met over the last eight years understand the value of this project and what it means to the state. As we have said consistently, safety and a respect for the environment remain our key priorities. We are listening and acting on what we have learned."
The proposed route was evaluated by the Nebraska Department of Environmental Quality and approved by the Governor of Nebraska in 2013. The preferred route avoids the area that is defined as the Nebraska Sandhills and is expected to have minimal environmental impacts in Nebraska. The review also included active consultation with landowners along the pipeline corridor where over 90 percent have signed voluntary easements to construct Keystone XL.
The PSC process is the clearest path to achieving route certainty for the project in Nebraska and is expected to conclude in 2017.
The company is committed to working productively with all stakeholders as this project moves forward. Keystone XL will benefit American workers, their families and the communities they live in as well as the U.S. economy. The pipeline will generate hundreds of millions of dollars in employee earnings in Nebraska, South Dakota and Montana alone during construction, and once operating will provide millions of dollars annually in local tax revenues.
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 91,500 kilometres (56,900 miles), tapping into virtually all major gas supply basins in North America. TransCanada is the continent's leading provider of gas storage and related services with 653 billion cubic feet of storage capacity. A large independent power producer, TransCanada currently owns or has interests in over 10,700 megawatts of power generation in Canada and the United States. TransCanada is also the developer and operator of one of North America's leading liquids pipeline systems that extend over 4,300 kilometres (2,700 miles), connecting growing continental oil supplies to key markets and refineries. 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 Third Quarter Report to Shareholders dated November 1, 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.
403.920.6773 or 800.608.7859
Investor & Analyst Inquiries:
David Moneta/Stuart Kampel
403.920.7911 or 800.361.6522