The major North American energy infrastructure TransCanada Corporation, while speaking to “The Globe Mail,” on Monday, June 13, 2016, at 2:40 p.m. EDT, openly expressed its intention to build an 800-km long gas pipeline in Mexico. This pipeline is set to be operational by late 2018. The pipeline, which would be worth $2.1-billion, is an outcome of a recent joint venture partnership that materialized between TransCanada Corp. and IEnova, a unit of Sempra Energy.
The partnership authorizes the major North American energy infrastructure to build and operate a natural gas pipeline in Mexico under a 60:40 joint venture. Therefore, TransCanada will own 60 percent of the project while IEnova will then own the remaining 40 percent.
Also, in a bid to show its commitment toward the new project, TransCanada plans to make an additional investment of $1.3-billion.
Written by Bashar Saajid
Edited by Jeanette Smith
The Globe and Mail: TransCanada Joint Venture wins $2.1-billion gas pipeline contract in Mexico
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