TransCanada Wins Additional US$400-Million Contract to Build New
Natural Gas Pipeline Infrastructure in Mexico
CALGARY, ALBERTA -- (Marketwire) -- 11/05/12 -- TransCanada
Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) 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 and chief executive officer. "These new
projects build on our experience developing safe and reliable
pipelines in Mexico and across North America."
TransCanada built, owns and operates the Guadalajara and Tamazunchale
natural gas pipelines in central Mexico and will soon break ground on
a Tamazunchale Pipeline Extension.
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 68,500 kilometres
(42,500 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 approximately 380
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:
http://www.transcanada.com/ or check us out on Twitter @TransCanada.
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",
"would" 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 financial and operation plans and outlook.
All forward-looking statements reflect TransCanada's beliefs and
assumptions based on information available at the time the statements
were made. Readers are cautioned not to place undue reliance on this
forward-looking information. 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 Management's
Discussion and Analysis filed February 15, 2012 under TransCanada's
profile on SEDAR at http://www.sedar.com/ and other reports filed by
TransCanada with Canadian securities regulators and with the U.S.
Securities and Exchange Commission.
Shawn Howard/Grady Semmens
403.920.7859 or 800.608.7859
Investor & Analyst Enquiries:
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