Tuesday, November 18, 2008

TransCanada to raise funds with stock sale

Alaska Gas Inducement Act (AGIA) licensee elect TransCanada plans to raise funds by selling more stock (LINK). The C$1 Billion should help TransCanada as their business strategy is tested by lower prices and lower demand for the products they transport, and the $250 Million hit they took when Lehmans went out of business.

Concerning TransCanada's efforts on the Alaska Gas Pipeline the Wall Street Journal says: (LINK):

Gov. Palin focused on passing the $500 million incentive package and selecting Calgary-based TransCanada to develop the 1,700-mile pipeline. But TransCanada needs commitments from the three big producers controlling the gas on Alaska's North Slope before it can secure financing for the project. And those companies are balking. Exxon Mobil Corp. has so far refused to participate. BP and ConocoPhillips are backing their own pipeline and have expressed reservations about joining the state-backed pipeline.

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