WB XPress Pipeline Gets Important USDA Approval for Natl Forest
TransCanada’s WP XPress pipeline project has just scored an important permit from the U.S. Dept. of Agriculture (USDA) Forest Service that allows the project to move forward in the Monongahela National Forest. In Jan. 2016, Columbia Pipeline Group (now owned by TransCanada) filed a full, official application with the Federal Energy Regulatory Commission (FERC) for approval of the $850 million WB XPress Project (see Columbia Pipeline Files to Build $850M WB XPress Project in WV/VA). WB XPress consists of two new compressor stations, 26 miles of pipeline replacement located along existing corridors (11.6 miles of it in Monongahela National Forest), and 2.9 miles of new pipeline in Virginia and West Virginia. The WB XPress Project will expand capacity of the Columbia Gas Transmission pipeline system in the region by 1.3 billion cubic feet per day (Bcf/d), linking Marcellus gas supplies to new markets. FERC issued a favorable environmental assessment for the project in March of this year (see FERC Gives Columbia WB XPress Enviro Thumbs Up). While the Forest Service has given its blessing, the project still needs a final approval from FERC before it can begin construction–something TransCanada asked for just last week. Here’s where things stand with the WP XPress project…
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Here’s a story you won’t read in mainstream news outlets–because it doesn’t fit the media’s anti-fossil fuel narrative that all pipelines are evil, and the people installing them are either misguided, or perhaps evil too. TransCanada’s Leach XPress pipeline project involves construction of approximately 160 miles of new “greenfield” natural gas pipeline and compression facilities in southeastern Ohio and West Virginia’s northern panhandle, flowing 1.5 billion cubic feet (Bcf) of gas all the way to Leach, Kentucky (hence the name). The Federal Energy Regulatory Commission (FERC) approved Leach XPress and a companion project, Rayne XPress, in January of this year (see 
As MDN has previously reported, Mountaineer XPress Pipeline includes 165 miles of new pipeline with approximately 2.7 billion cubic feet (Bcf) per day of transportation capacity from existing and future points of receipt along or near the Columbia pipeline system–most of it located in West Virginia (see 
In February the Federal Energy Regulatory Commission (FERC) issued a draft final environmental impact statement (DEIS) for two important pipeline upgrades to carry more Marcellus/Utica gas to southern markets–Mountaineer XPress and Gulf XPress (see 
TransCanada, one of Canada’s leading midstream/pipeline companies, cooked up a deal last year to pipe natural gas from Canada’s West Coast to the East Coast in order to fend off cheap supplies of Marcellus/Utica gas that will flow into Canada when/if the NEXUS and Rover pipelines get built (see 
Canadian-based TransCanada, famously known for wanting to build the Keystone XL oil pipeline from Canada to the Gulf Coast, didn’t want to be left out of the most important midstream story of the century (the Marcellus/Utica), so they bought Columbia Pipeline Group–closing on the sale in July 2016 (see 
Last week TransCanada announced they are “selling” their interest in the Iroquois Gas Transmission pipeline and a second pipeline, Portland Natural Gas Transmission System (PNGTS), to a subsidiary of TransCanada for $765 million. Every now and again big energy companies transfer some of their assets to different subsidiary companies, on paper. We say “on paper” because nothing really changes with the management of the assets–in this case two pipelines. However, money does change hands because usually there are different sets of investors for the different subsidiaries. So TransCanada “sold” themselves (different set of investors) these two pipeline systems. Iroquois is majority owned by TransCanada–in two pieces. After the drop down sale, TC PipeLines will own both pieces, representing 61.1% of the Iroquois system. Iroquois is a 416-mile interstate natural gas pipeline extending from the U.S.-Canadian border at Waddington, NY, through New York State and western Connecticut to its terminus in Commack, NY, and from Huntington to the Bronx, NY. The second pipeline part of the transfer deal is PNGTS–an interstate natural gas pipeline company providing natural gas transportation service for gas utilities, paper mills, and electric generation plants throughout New England. Here’s info about the deal, and an overview for each pipeline system… 
TransCanada, one of Canada’s leading midstream/pipeline companies, cooked up a deal last year to pipe natural gas from Canada’s West Coast to the East Coast in order to fend off cheap supplies of Marcellus/Utica gas that will flow into Canada when/if the NEXUS and Rover pipelines get built (see 
TransCanada, one of Canada’s leading midstream/pipeline companies, cooked up a deal last year to pipe natural gas from Canada’s West Coast to the East Coast in order to fend off cheap supplies of Marcellus/Utica gas that will flow into Canada when/if the NEXUS and Rover pipelines get built (see 
Companies in the oil and gas space, in particular midstream (pipeline) companies, have complicated ownership structures on paper. There are usually a number of subsidiary companies. Sometimes these companies have a “mother ship” which is owned by stockholders, and a subsidiary that is a master limited partnership (MLP), which is a different kind of corporate structure. MLPs don’t have shares of stock but instead issue units (about the same thing as shares of stock). MLPs give the unitholders certain tax advantages not offered to stockholders. Yes, its complicated. The important thing to know is that often these large pipeline companies have layers within layers. Which is the setup for this story. TransCanada, which purchased Columbia Pipeline Group last year for $10 billion (see 
In December, the Federal Energy Regulatory Commission (FERC) threw a little cold water on two important pipeline upgrades to carry more Marcellus/Utica gas to southern markets. A final environmental impact statement (EIS) was due from FERC for both the Mountaineer XPress and Gulf XPress projects no later than April 28, 2017. FERC said that the deadline would slip by three months due to reroutes and additional environment information requested (see