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TransCanada Awarded Additional $400M Contract for Natural Gas Pipeline Infrastructure in Mexico

TransCanada Corporation (NYSE: TRP) today announced that its Mexican subsidiary, Transportadora de Gas Natural del Noroeste, was awarded the contract to build, own and operate the El Oro-to-Mazatlan Pipeline (Mazatlan Pipeline) in Mexico, following a successful bid to the Comision Federal de Electricidad (CFE), Mexico's federal power company.The Mazatlan Pipeline project, with an estimated investment of approximately US$400 million by TransCanada, will begin at El Oro and end in Mazatlan, in the state of Sinaloa. The 24-inch diameter pipeline will be approximately 413 kilometres (257 miles) long and have contracted capacity of 202 million cubic feet a day. The pipeline is expected to be in service in the fourth quarter of 2016. It will interconnect with the El Encino-to-Topolobampo Pipeline (Topolobampo Pipeline) that TransCanada was awarded the contract to build, own and operate last week at an estimated cost of US$1.0 billion. Construction of the two new pipelines is supported by 25-year natural gas transportation service contracts with the CFE."We are pleased to be working with the government of Mexico on new natural gas infrastructure that will bring its cleaner-burning natural gas to businesses and residents," said Russ Girling, TransCanada's president

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Posted-In: News Guidance Contracts Management

 

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