Tuesday, April 20, 2010

For new TransCanada boss, Alaska pipeline at bottom of priorities

CALGARY, Alta. - The Alaska gas pipeline project will be vital for TransCanada Corp. in a decade, but the company’s incoming chief executive said he is more focused now on moving forward with $22-billion of projects that garner far fewer headlines.
Russ Girling, who takes over as CEO in July, said on April 15 that the multibillion-dollar Alaska proposal would help TransCanada keep its Alberta and Canadian main line gas systems running at capacity as conventional western Canadian production dwindles in the coming years.
But Girling, 47, said in an interview he is still more focused on major investments that will come to fruition over the next eight years, such as its Keystone oil pipeline system to the United States in June and its subsequent expansions.
“If you made the decision today, you’d be looking at eight to 10 years in terms of first flow of gas (from Alaska). So it’s still a long lead-time project,” he said.

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