TERRACE, BRITISH COLUMBIA--(Marketwired - April 23, 2015) - TransCanada (TSX:TRP) (NYSE:TRP) - Prince Rupert Gas Transmission Ltd. (PRGT) has confirmed a Project Agreement with the Kitselas First Nation of northern B.C. that provides the Kitselas First Nation with financial and other benefits related to the pipeline project. Specifically, the Project Agreement provides annual legacy payments for the duration of the commercial operation of the pipeline, plus immediate benefits on signing, and at other key project milestones.
Pipeline Project Agreements are part of a comprehensive approach to working with First Nations on liquefied natural gas (LNG) opportunities, including developing skills training and involving First Nations in developing business opportunities.
Dean Patry, president of Prince Rupert Gas Transmission Ltd. stated, "We are very pleased to have concluded this Project Agreement with Kitselas First Nation. It's another important milestone for us, and further reflects our commitment to engage with First Nations in a meaningful way. We look forward to working with Kitselas First Nation during construction and operation of the PRGT pipeline project."
Kitselas Chief Joe Bevan expressed support for the project by saying, "The pipeline project and the activity surrounding it are going to impact Kitselas and PRGT recognizes this. They have been very good to work with and this agreement not only provides us with economic benefits and employment training, but it ensures that all environmental concerns have been adequately addressed."
The Kitselas Project Agreement joins previously-announced PRGT agreements with the Nisga'a Nation and Gitanyow First Nation.
PRGT is proposing to design, build, own and operate (subject to required regulatory and commercial approvals) a 900 kilometre natural gas pipeline to deliver natural gas from a point near Hudson's Hope to the proposed Pacific NorthWest LNG facility at Lelu Island, off the coast of Port Edward, near Prince Rupert. Project details can be found at www.princerupertgas.com.
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 oil 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 more than 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 oil delivery systems. TransCanada's common shares trade on the Toronto and New York stock exchanges under the symbol TRP. For more information visit: www.transcanada.com or check us out on Twitter @TransCanada or http://blog.transcanada.com.