TransCanada (NYSE:TRP) struck a $5 billion deal with Progress Energy to design, build, own, and operate a 470-mile pipeline moving natural gas from the prolific Montney shale to the British Columbia coast. While the project, if it hurdles regulatory and stakeholder approval, won't be operable until 2018, this move magnifies Canada's acceptance of exporting its glut of natural gas while the United States remains tepid about the idea. Check out the video below for more details on the midstream deal as well as reasons the U.S. might leave the majority of the LNG exportation to Canada, while using its natural gas to boost competitive landscapes in other industries.
Joel South has no position in any stocks mentioned. Taylor Muckerman has no position in any stocks mentioned. The Motley Fool owns shares of ExxonMobil. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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