The company explained it was selected by Progress Energy Canada Ltd. to design, build, own and operate a proposed $5 billion, 470-mile natural gas pipeline.
"The proposed Prince Rupert gas transmission project will allow British Columbians, and all Canadians, to continue to benefit from the responsible development of the growing supply of valuable natural gas resources," said Russ Girling, TransCanada's president and chief executive officer, in a statement.
The pipeline would transport about 2 billion cubic feet of natural gas per day from fields near Fort St. John, British Columbia, to an expected liquefied natural gas export facility near Prince Rupert, along the provincial coast. The company expects the pipeline to enter into service by the end of 2018, subject to regulatory and corporate approval.
The company added that it was considering an extension to an existing pipeline system that could tie into later networks. That project would cost at least $1 billion and go into service at the end of 2015.
Energy developments in Canada's western coast have sparked concerns from environmentalists and aboriginal communities. Girling explained that his company's experience in the region requires "open and meaningful discussions with aboriginal communities and key stakeholder groups."