Referenced Stocks

UPDATE: TransCanada Selected to Develop Multi-BLn Dollar Natural Gas Pipeline to Canada's West Coast - Shares Up Nearly 1%

By Midnight Trader,  June 05, 2012, 01:26:45 PM EDT

TransCanada Corp. ( TRP ) is up nearly 1% at $40.84, but off a day's high of $41, trending higher on news the North American energy company has been selected by Shell Canada Limited, a unit of Royal Dutch Shell (RDS.A) and its partners to design, build, own and operate the proposed Coastal GasLink project, an estimated $4-billion pipeline that will transport natural gas from the Montney gas-producing region near Dawson Creek, British Columbia ( BC ) to the recently-announced LNG Canada liquefied natural gas export facility near Kitimat, BC.

The LNG Canada project is a joint venture led by Shell, with partners Korea Gas Corporation, Mitsubishi Corporation and PetroChina Company Limited. Shell and TransCanada are working toward the execution of definitive agreements on the Coastal GasLink project.

Shares of TRP trade in a 52-week range of $37.29 - $45.07. RDS.A are slightly lower at around $61.20.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

Referenced Stocks: BC, TRP



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