Printer Friendly

TRANSCANADA AND SIERRA PACIFIC TO DEVELOP NEVADA PIPELINE

 CALGARY, Alberta, March 8 /PRNewswire/ -- TransCanada PipeLines (Toronto, Montreal, Vancouver, Calgary: TRP) and Tuscarora Gas Transmission Co., a new subsidiary of Sierra Pacific Resources Co. of Reno, Nev., today announced that they have entered into a Letter of Intent relating to the construction of a new natural gas pipeline system that will serve an expanding natural gas market in Reno, northern Nevada and northeastern California.
 The proposed 200-mile pipeline will extend southeast from the terminus of the Pacific Gas Transmission System in Oregon through California and Nevada to a location near Reno. The in-service date is anticipated to be some time in 1995, subject to receipt of all regulatory approvals. The estimated capital cost is about U.S. $130 million. The initial capacity of the system could be up to 120 million cubic feet per day, depending on the outcome of a regulatory open season during which potential shippers will identify themselves to the project.
 Through interconnections with pipelines operated by Pacific Gas Transmission, the new system will have the ability to tap gas reserves in the Western Canadian Sedimentary Basin. These natural gas supplies will be available to the market at competitive transportation costs relative to other existing or proposed alternatives.
 "This project represents another opportunity to continue TransCanada's profitable growth and is entirely consistent with our overall strategy," said Gerald J. Maier, TransCanada's chairman and chief executive officer.
 "We are very pleased that TransCanada chose to participate," said Austin Stedham, Sierra Pacific Resources chairman of the board. This project will allow us to combine our strengths and management skills to meet the growing demand in northern Nevada for economically and competitively priced natural gas, and to ensure the security of gas supply for the region."
 TransCanada PipeLines, a Canadian-based public company, is one of North America's leading transporters and marketers of natural gas with $8 billion in assets. It also operates significant complementary businesses in gas-fueled electric power generation, gas liquids extraction and carbon black manufacturing.
 Sierra Pacific Resources is an energy holding company with consolidated assets of more than U.S. $1 billion. It has operating subsidiaries engaged in energy production, transmission and distribution, real estate management and land development.
 -0- 3/8/93
 /CONTACT: Frank Dabbs of TransCanada PipeLines, 403-267-8525; or Charles Fletcher of Sierra Pacific Resources, 702-689-3610/
 (TRP.)


CO: TransCanada PipeLines Ltd.; Sierra Pacific Resources ST: Alberta, Nevada IN: OIL SU:

MS -- LA025 -- 4145 03/08/93 15:19 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Mar 8, 1993
Words:405
Previous Article:SYNTHETICA TECHNOLOGIES INC. ANNOUNCES REVOLUTIONARY DEVICE FOR DESTROYING TOXIC WASTE
Next Article:SHELDAHL TO INVEST IN HIGH-PERFORMANCE INTERCONNECT PRODUCTION FACILITY
Topics:


Related Articles
TRANSCANADA PIPELINES CLOSES ANG SHARE PURCHASE
SIERRA PACIFIC RESOURCES BOARD DECLARES DIVIDEND
TUSCARORA GAS TRANSMISSION COMPANY: CONSTRUCTION TO BEGIN ON NATURAL GAS PIPELINE
/C O R R E C T I O N -- Sierra Pacific Resources/(Correction Notice)
Santa Fe Pacific Pipeline Partners, L.P. Announces Transmix Processing Facility
TransCanada Sells Interest in Tuscarora Gas Transmission Company.
TC PipeLines, LP to Purchase 49% Interest in Tuscarora Gas Transmission Company.
Sierra Pacific & Enron Terminate Agreement On Sale of Portland General Electric.
Federal Regulators Approve Tuscarora Gas Pipeline Expansion Plans.
TransCanada acquires GTN Corporation.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters