TransCanada to solicit market this year

AP News
Posted: Jan 05, 2012 8:45 PM
TransCanada to solicit market this year

TransCanada Corp., which has yet to secure agreements for a major gas pipeline in Alaska, must solicit the market again this year to gauge interest in its project.

That's in keeping with terms of the Alaska Gasline Inducement Act, under which TransCanada is proceeding. TransCanada Vice President Tony Palmer tells The Associated Press the company would need to do this whether it had agreements already or not.

The act calls for assessing market demand for additional capacity every two years through an open season, which is a process of courting producers and seeking commitments, or other means, like direct communication. The idea is to ensure producer access to the line and that transportation costs aren't obstacles to new developers or explorers.

TransCanada's first open season was April 30-July 30, 2010.