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TransCanada Launches Binding Open Season for Cushing Marketlink Project

TransCanada Logo On September 7, 2010 TransCanada launched a binding Open Season to obtain firm commitments from interested parties for the Cushing Marketlink Project, which would provide crude oil transportation service from Cushing, Oklahoma to the U.S. Gulf Coast.

The proposed Cushing Marketlink Project would involve construction of approximately US$70 million of facilities at Cushing, Oklahoma, a key pipeline and crude oil storage hub. The Project would provide oil transportation service from Cushing to a delivery point near existing terminals in Nederland, Texas using pipeline facilities that form part of TransCanada's proposed Keystone Gulf Coast Expansion Project. In addition, the Project is expected to help alleviate current pipeline capacity constraints and provide shippers with transportation options from the Cushing market.

Following the completion of a successful Open Season, TransCanada intends to proceed with the necessary regulatory applications for approvals to construct and operate the required facilities and to provide transportation services. The Cushing Marketlink Project is expected to commence providing service in the first quarter of 2013.

Parties who are interested in obtaining versions of the associated draft Tariff and Transportation Service and Throughput Agreement (TSA) may execute a Confidentiality Agreement with TransCanada PipeLines Limited. The draft Tariff and TSA are confidential and shall not be disclosed to any other party except in strict accordance with the provisions of the Confidentiality Agreement.

During the binding Open Season, which expires at noon (Mountain Time) on November 10, 2010, interested parties may submit binding bids for transportation capacity of crude oil from Cushing, Oklahoma to Nederland, Texas.

TransCanada is a leader in the responsible development and reliable operation of North American energy infrastructure including natural gas pipelines, power generation, gas storage facilities, and projects related to oil pipelines. TransCanada's network of wholly owned pipelines extends more than 59,000 kilometres (36,500 miles), tapping into virtually all major gas supply basins in North America. TransCanada is one of the continent's largest providers of gas storage and related services with approximately 370 billion cubic feet of storage capacity. A growing independent power producer, TransCanada owns, or has interests in, over 11,800 megawatts of power generation in Canada and the United States. TransCanada's common shares trade on the Toronto and New York stock exchanges under the symbol TRP.

Confidentiality Agreement (73 KB, PDF)

Notice of Open Season (169 PDF)

Published 08/09/2010

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