NORFOLK, NEBRASKA--(Marketwired - June 12, 2013) - TransCanada Corporation (News - Market indicators) (NYSE:TRP) (TransCanada) announced today that it has begun the process of de-registering certain easements that it has acquired for its original Keystone XL Pipeline route in Nebraska, which the company has agreed to re-route to avoid the defined Sandhills area and the Clarks and Western wellhead protection areas.
"We appreciate the early support and cooperation that we received from many Nebraska landowners for the original Keystone XL route. We have received approval for a different route and can now begin the work that is necessary to de-register easement agreements that are no longer required," said Corey Goulet, vice-president, Keystone Projects, TransCanada.
"This will not require any work on behalf of the impacted landowners and our land and legal team expects to have this work completed in the next two to three months," added Goulet. "In keeping with what we have said and what is standard practice for TransCanada, the landowners involved will be able to retain the payments made to them in exchange for these easement agreements."
TransCanada representatives will de-register easement agreements on properties in the following counties: Boone, Garfield, Greeley, Hamilton, Holt, Jefferson, Keya Paha, Merrick, Nance, Rock, Saline, York and Wheeler. In total, the easements that will be de-registered involve 288 landowners who controlled 367 properties and 58 temporary work space agreements.
"As we go through the process of releasing these easement agreements, our land agents are also working towards obtaining easements for the new (and approved) Keystone XL Pipeline route in Nebraska. We will keep working with affected landowners in an open and transparent manner and we look forward to continuing to earn the trust of the people whose land our pipeline will cross," concluded Goulet.
Once documents are completed by TransCanada's land team, each release will be filed in its respective courthouse. Once the release has been recorded, TransCanada will send copies to the respective landowner(s).
With more than 60 years' experience, TransCanada is a leader in the responsible development and reliable operation of North American energy infrastructure including natural gas and oil pipelines, power generation and gas storage facilities. TransCanada operates a network of natural gas pipelines that extends more than 68,500 kilometres (42,500 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 more than 400 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 is developing one of North America's largest oil delivery systems. TransCanada's common shares trade on the Toronto and New York stock exchanges under the symbol TRP. For more information visit: www.transcanada.com or check us out on Twitter @TransCanada or http://blog.transcanada.com.
Forward Looking Information
This publication contains certain information that is forward-looking and is subject to important risks and uncertainties (such statements are usually accompanied by words such as "anticipate", "expect", "would", "will" or other similar words). Forward-looking statements in this document are intended to provide TransCanada security holders and potential investors with information regarding TransCanada and its subsidiaries, including management's assessment of TransCanada's and its subsidiaries' future financial and operation plans and outlook. All forward-looking statements reflect TransCanada's beliefs and assumptions based on information available at the time the statements were made. Readers are cautioned not to place undue reliance on this forward-looking information. TransCanada undertakes no obligation to update or revise any forward-looking information except as required by law. For additional information on the assumptions made, and the risks and uncertainties which could cause actual results to differ from the anticipated results, refer to TransCanada's Quarterly Report to Shareholders dated April 25, 2013 and 2012 Annual Report filed under TransCanada's profile on SEDAR at www.sedar.com and with the U.S. Securities and Exchange Commission at www.sec.gov and available on TransCanada's website at www.transcanada.com.
