Forward Looking Information

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Conference of Western Attorneys General Regulatory Predictability Sean McMaster TransCanada Corporation February 16, 2012. Forward Looking Information. - PowerPoint PPT Presentation

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  • Conference of Western Attorneys GeneralRegulatory PredictabilitySean McMaster TransCanada CorporationFebruary 16, 2012

  • This presentation may contain certain information that is forward-looking and is subject to important risks and uncertainties. The words "anticipate", "expect", "believe", "may", "should", "estimate", "project", "outlook", "forecast" or other similar words are used to identify such forward-looking information. Forward-looking statements in this presentation are intended to provide TransCanada security holders and potential investors with information regarding TransCanada and its subsidiaries, including managements assessment of TransCanadas and its subsidiaries future financial and operational plans and outlook. Forward-looking statements in this presentation may include, among others, statements regarding the anticipated business prospects, and financial performance of TransCanada and its subsidiaries, expectations or projections about the future, strategies and goals for growth and expansion, expected and future cash flows, costs, schedules (including anticipated construction and completion dates), operating and financial results, and expected impact of future commitments and contingent liabilities. All forward-looking statements reflect TransCanada's beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among others, the ability of TransCanada to successfully implement its strategic initiatives and whether such strategic initiatives will yield the expected benefits, the operating performance of the TransCanadas pipeline and energy assets, the availability and price of energy commodities, capacity payments, regulatory processes and decisions, changes in environmental and other laws and regulations, competitive factors in the pipeline and energy sectors, construction and completion of capital projects, labour, equipment and material costs, access to capital markets, interest and currency exchange rates, technological developments and economic conditions in North America. By its nature, forward-looking information is subject to various risks and uncertainties, which could cause TransCanada's actual results and experience to differ materially from the anticipated results or expectations expressed. Additional information on these and other factors is available in the reports filed by TransCanada with Canadian securities regulators and with the U.S. Securities and Exchange Commission (SEC). Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this presentation or otherwise, and not to use future- oriented information or financial outlooks for anything other than their intended purpose. TransCanada undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.Forward Looking Information

  • Competitively positioned in pipeline and energy infrastructureApproximately $50 billion of premium pipeline and energy assetsEmploys over 4,200 people in nearly 50 professions, trades and fields, located in 7 provinces and 32 statesLeading North American Energy Infrastructure Company3

  • TransCanada Corporation (TRP) listed TSX and NYSE (Financial figures are unaudited and in Canadian dollars, at December 31, 2011) Total assets $49.0 billionNet income (attributable to commonshares)$1.5 billion or $2.18 per shareComparable Earnings$1.6 billion or $2.23 per shareFunds generated from operations $3.7 billionDividends declared per common share$1.76

    Corporate Statistics*

  • Our Vision and ValuesOur VisionTransCanada will be the leading energy infrastructure company in North AmericaWith a strong focus on pipelines and power generation opportunitiesLocated in regions where we enjoy or can develop significant competitive advantage.Our ValuesIntegrityCollaborationResponsibilityInnovation

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  • TransCanada Corporation (TSX/NYSE: TRP)Natural Gas Pipelines57,000 km (35,500 mi) wholly owned11,500 km (7,000 mi) partially owned250 Bcf of regulated natural gas storage capacityAverage volume of 14 Bcf/dOil PipelinesKeystone* 1.4 million Bbl/d ultimate capacityEnergy19 power plants, 10,800 MWDiversified portfolio, including wind, hydro, nuclear, coal and natural gas130 Bcf of non-regulated natural gas storage capacityPhases 1 and 2 in operation, Phases 3 and 4 in development*

  • Natural Gas Pipelines57,000 km (35,500 mi) of wholly owned natural gas pipelineInterests in an additional 11,500 km (7,000 mi) of natural gas pipeline250 Bcf of regulated natural gas storage capacityUnparalleled connections from traditional and emerging basins to growing markets Average daily volume of approximately 14 Bcf *

  • Oil PipelinesKeystone Pipeline - 2,154-miles, transporting crude oil from Alberta to markets at Wood River in Illinois and at Cushing OklahomaProposed Keystone XL Pipeline Project a proposed 1,661-mile pipeline from Alberta to serve markets at Cushing, Oklahoma and Port Arthur, Texas1.4 million Bbl/day ultimate capacityBakken and Cushing Marketlink Projects would provide opportunity to transport U.S. crude production Proposed Houston lateral would expand capacity to the US Gulf Coast refining center *

  • *Keystone Oil Pipeline - Linking Growing Crude Oil Supply to Large U.S. Markets* millions of barrels per daySource: 2009 EIA Actuals

  • *Keystone Oil Pipeline - Linking Growing Crude Oil Supply to Large U.S. Markets* millions of barrels per daySource: 2009 EIA Actuals

  • *Keystone Oil Pipeline - Linking Growing Crude Oil Supply to Large U.S. Markets* millions of barrels per daySource: 2009 EIA Actuals

  • *Keystone Oil Pipeline - Linking Growing Crude Oil Supply to Large U.S. Markets* millions of barrels per daySource: 2009 EIA Actuals

  • Benefits of Keystone ProjectThe United States will derive significant benefits from the Keystone projects:Energy SecurityNational SecurityEconomic StimulusJob CreationTax revenuePromotes domestic crude oil production and improved netback pricing to domestic producers vis a vis rail/truck transport

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  • Keystone XL Major Permitting ProcessesState PermittingSouth Dakota Energy Conversion and Transmission Facilities Act permitPublic informational meetings and formal evidentiary hearingConsiders impacts of proposed route but not alternative routes; not a siting process per se12-month mandatory timeline from application to OrderApplication filed March 12, 1009Order issued March 12, 2010Keystone filed Motion for limited reconsideration April 14, 2010Amended Order issued June 29, 2010Highly predictable and reliable process!

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  • Keystone XL Major Permitting ProcessesState Permitting, continuedMontana Major Facilities Siting Act (MFSA) Detailed application to Montana Department of Environmental QualityMDEQ used DOS NEPA process to satisfy Montana Environmental Quality Act obligation, as permitted by statuteApplication filed December 18, 2008Multiple rounds of information requestsApplication deemed complete April 2010Final EIS issued August 26, 2011In December 2011, Governor Schweitzer announced MFSA certificate would be issued shortlyMDEQ working on final details of MFSA Certificate*

  • Keystone XL Major Permitting ProcessesState Permitting, continuedNebraska No siting statute prior to November 2011Public concern over route across Sandhills region led Governor Heineman to call a Special Session of the Legislature in November 2011 (notwithstanding Final EIS approval of Sandhills route)Legislature enacted Major Oil Pipeline Siting ActRequires formal process before State Public Service Commission; regulations yet to be promulgatedLegislation authorized Nebraska Department of Environmental Quality to work with Dept. of State and Keystone to develop alternate route to avoid Sandhills regionState Dept. denial of Presidential Permit temporarily suspended DEQ process, pending new legislative direction in 2012 session.

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  • Keystone XL Major Permitting ProcessesFederalPresidential Permit from US Department of State under Executive Order 13337 authorizing border crossingState Dept. conducts environmental review under NEPAState Dept. conducts National Interest review considering wide array of factorsNumerous federal agencies participate in NEPA and NID reviews. Montana Department of Environmental Quality also served as cooperating agency in NEPA reviewUS Army Corps of Engineers wetland and waterbody permitting under Clean Water ActBureau of Land Management Grant of Right-of-Way and Temporary Use Permit for ~42 miles of federal lands crossedUS Fish & Wildlife Service Consultation with Dept. of State under Endangered Species Act re impacts to Threatened and Endangered SpeciesState Dept. and State Historic Preservation Offices reviewed impacts to cultural resources under National Historic Preservation Act.*

  • Keystone XL Major Permitting ProcessesDelays in the Federal Approval ProcessKeystone planned its permitting schedule based on the State Department processing of two similar Presidential Permit applications that were processed between 2006 and 2009.Keystone I -- 23 months from application to permitAlberta Clipper -- 27 months from application to permitInstead, the DOS process took 40 months, from September 2008 to January 2012 to get to a decision. The decision only occurred in January 2012 because of a Legislative deadlineA number of factors impacted the DOS review timeline:EPA criticism of the Draft and Supplemental

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