TransCanada Pipelines Ltd. was
founded in 1951 with its headquarters in Toronto.
The focus of the company was to export Alberta’s
natural gas to the United States, bringing about an
expansion of the overall industry. By 1957, the goal
was realized as natural gas was sent through the
pipeline to the east. The following year, the company
finished construction on the Canadian Mainline as a
major extension to existing gas pipelines.
Subsequent expansions through the 1960s and 1970s
led to new markets opening up all over North America
for TransCanada. The 1980s proved to be a decade of
immense growth with the development of the Quebec
and US pipelines. The company also created Western
Gas Marketing Limited to market gas to Rhode Island
and Ontario. With most of TransCanada’s operations
in Alberta, the company’s head office was
relocated to Calgary in 1990.
The largest merger ever taken by
Canadian energy companies occurred in 1998 when
TransCanada and NOVA Corporation joined together.
NOVA’s operations were taken over by TransCanada
except their Chemical Branch, which remained a
separate company. Currently, TransCanada is focused
on reviving the Alaska Highway Pipeline Project to
provide the shipment of gas in northern Alaska to
markets in the lower states. Its subsidiary,
Foothills Pipe Lines Ltd., had been working on the
Alaska Highway Pipeline Project since 1976. Gas prices halted the project,
however. Before the project
can start, agreements must be in place with the
natural gas shippers and community consultations
held. Another TransCanada project is with Imperial
Oil Resources on the Mackenzie Valley pipeline.
TransCanada is providing funding for the Aboriginal
Pipeline Group (APG) for the project definition
phase of the Mackenzie Gas Project.
TransCanada currently has 41,000
kilometres (25,600 miles) of pipeline, transporting
the majority of western Canada's natural gas.
TransCanada also has other energy sector operations
in the US to generate electricity from hydro,
simple cycle, combined cycle, and natural gas-fired
plants. In Canada they operate natural gas,
cogeneration, and waste byproducts plants. TransCanada trades under the symbol of TRP on the
Toronto and New York stock exchanges.