manufacturing-industry-oil-refinery

TransCanada Corp. says it expects B.C.’s oil and gas commission to decide soon on two pipeline projects that the company wants to build across the province.

One of the projects is a 900-kilometre pipeline to move natural gas from the Montney gas-producing region near Fort St. John, in northeastern B.C., to a connection near a proposed liquefied natural gas terminal near Prince Rupert, B.C.

Read: Client Confidential: Sander Steer

The other project is a 670-kilometre pipeline to move gas from the Montney region to another proposed LNG terminal near Kitimat, B.C.

TransCanada’s expectations of a decision on the pipelines this quarter were included in the company’s first-quarter financial report, which largely met analyst estimates.

The Calgary-based company says its “comparable earnings” for the first three months of 2015 were 66 cents per share or $465 million, up from $422 million or 60 cents per share in last year’s first quarter.

Read: Conservative clients could hedge bonds

Analysts tracked by Thomson Reuters also estimated 66 cents per share of earnings for the quarter.

TransCanada’s net income–which includes items excluded from comparable earnings–was $387 million or 55 cents per share, down from $412 million or 58 cents per share in the first quarter of 2014.

Read: Advisor confidential | Hatice Pakdil

Originally published on Advisor.ca

Add a comment

You must be logged in to comment.

Register on Advisor.ca