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TC PipeLines, LP Announces FERC Voted to Approve Project 2000
Calgary, Alberta - March 16, 2000 - (Nasdaq NM: TCLPZ) - TC PipeLines,LP announced today that the Federal Energy Regulatory Commission (FERC) voted to approve Northern Border Pipeline Company's Project 2000. TC PipeLines, LP holds a 30% general partner interest in Northern Border Pipeline Company. This pipeline extension project is designed to provide the shippers on Northern Border Pipeline with access to the northern Indiana industrial zone, served by Northern Indiana Public Service Company (NIPSCO), a major midwestern United States local distribution company with large industrial load requirements and total annual system deliveries in excess of 300 billion cubic feet.
"The FERC's approval of Project 2000 will provide TC PipeLines, LP with an opportunity to grow through our existing asset base," said Garry P. Mihaichuk, President and Chief Executive Officer of TC PipeLines GP, Inc., general partner of TC PipeLines, LP. "Fundamental to our business strategy is the ability to connect the abundent supply of Canadian natural gas to new and growing natural gas consuming markets through initiatives like Project 2000."
Northern Border Pipeline plans to install approximately 34 miles of 30-inch pipe commencing from its 36-inch pipeline near Manhatten, Illinois to a point near North Hayden, Indiana. Design capacity of the new line will be 544 million cubic feet per day. The FERC approved rolled-in rate treatment for the estimated $94 million project.
TC PipeLines, LP is a publicly held limited partnership. It owns a 30 percent interest in Northern Border Pipeline Company, a Texas general partnership engaged in the business of transporting natural gas. Northern Border owns a 1,214-mile United States interstate pipeline system that transports natural gas from the Montana-Saskatchewan border to markets in the midwestern United States. TC PipeLines, LP is managed by its general partner, TC PipeLines, GP, Inc., a wholly owned subsidiary of TransCanada PipeLines Limited. Subsidiaries of TransCanada also hold common and subordinated units of the Partnership. Common units of TC PipeLines, LP are quoted on the Nasdaq National Market and trade under the symbol "TCLPZ". For more information about TC PipeLines, LP, visit the Partnership's Internet site at www.tcpipelineslp.com.
Media Inquiries:
Glenn Herchak
(403) 267-3309
Limited Partner and Analyst Inquiries:
Theresa Jang
(403) 290-7485
Toll-free 1-877-290-2772
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