Canadian Government Approves TransCanada NOVA Gas Transmission Expansion Project

The Canadian government on Monday announced its approval of TransCanada’s C$1.3 billion (US$968.8 million) NOVA Gas Transmission expansion project under 36 conditions.

Key conditions include offering jobs to those involved in indigenous communities and creating a caribou habitat restoration plan.

This system is one of the largest in North America and gathers natural gas from Montney and Duvernay shale plays located in Alberta and British Columbia.

According to Dirk Lever, an analyst with AltaCorp Capital, the project was expected to be approved as natural gas is much less controversial than crude oil projects.

TransCanada plans to complete the project by the second quarter of 2018.

Source:
Reuters