SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
6-K
Report of
Foreign Private Issuer
Pursuant
to Rule 13a-16 or 15d-16 of
the
Securities Exchange Act of 1934
For the
month of March 2010
Commission
File No. 1-31690
TransCanada
Corporation
(Translation
of Registrant's Name into English)
450
– 1 Street S.W., Calgary, Alberta, T2P 5H1, Canada
(Address
of Principal Executive Offices)
Indicate
by check mark whether the registrant files or will file annual reports under
cover of Form 20-F or Form 40-F:
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Form
20-F
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¨
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Form
40-F
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þ
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Indicate by check mark if
the registrant is submitting the Form 6-K in paper as permitted by Regulation
S-T Rule 101(b)(1): ¨
Indicate by check mark if
the registrant is submitting the Form 6-K in paper as permitted by Regulation
S-T Rule 101(b)(7): ¨
Exhibit
99.1 to this report, furnished on Form 6-K, is furnished, not filed, and will
not be incorporated by reference into any registration statement filed by the
registrant under the Securities Act of 1933, as amended.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
Date:
March 12, 2010
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TRANSCANADA
CORPORATION
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By:
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/s/
Ronald L. Cook
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Ronald
L. Cook
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Vice-President,
Taxation
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EXHIBIT
INDEX
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99.1
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A
copy of the registrant’s News Release dated March 11,
2010.
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Exhibit
99.1
NewsRelease
Keystone
Gulf Coast Expansion Approved
Calgary,
Alberta – March
11, 2010 – TransCanada Corporation (TSX, NYSE: TRP) (TransCanada) today
announced the National Energy Board (NEB) has approved the company’s application
to construct and operate the Canadian portion of the Keystone Gulf Coast
Expansion Project. The NEB stated in its release that it found, “the
proposed pipeline to be in the public interest and accepted that the project
would connect a large, long term and strategic market for Western Canadian crude
oil with the U.S. Gulf Coast in a manner that would bring economic and other
benefits to Canadians.”
“We are
pleased the National Energy Board has approved our Keystone
expansion. This is another significant milestone in advancing the
project,” says Hal Kvisle, TransCanada president and chief executive officer.
“Keystone will be the first pipeline to directly connect a growing and reliable
supply of Canadian crude oil to the largest refining market in North
America. Our shippers have committed crude oil that amounts to 75 per
cent of the expansion capacity for an average term of 17 years reflecting the
value the project has to the overall market.”
When
completed, the expansion will increase the capacity of the Keystone Pipeline
System from 590,000 barrels per day to approximately 1.1 million barrels per
day. The US$12 billion system is 83 per cent subscribed with long-term
commitments of 910,000 barrels per day for an average term of approximately 18
years.
The
Keystone expansion is a 3,200-kilometre (1,980-mile), 36-inch crude oil pipeline
stretching from Hardisty, Alberta and moving southeast through Saskatchewan,
Montana, South Dakota and Nebraska. It will link up with a portion of the
Keystone Pipeline that will be built through Kansas to Cushing,
Oklahoma. The pipeline will then continue on through Oklahoma to a
delivery point near existing terminals in Nederland, Texas to serve the Port
Arthur, Texas marketplace.
Applications
for U.S. regulatory approvals are proceeding and decisions are anticipated
during the fourth quarter of 2010. Construction is expected to begin in the
first quarter of 2011 and we expect deliveries of crude oil to the U.S. Gulf
Coast to begin in the first quarter of 2013.
TransCanada
continues to make progress on the initial phase of Keystone that will deliver
crude oil to the U.S. Midwest. Line fill continues with crude oil expected to
reach Patoka, Illinois in mid-2010. The Keystone project is an
important part of TransCanada’s current $22 billion capital program, a program
that is expected to lead to significant growth in cash flow and earnings over
the next five years.
With more than 50 years’
experience, TransCanada is a leader in the responsible development and reliable
operation of North American energy infrastructure including natural gas and oil
pipelines, power generation and gas storage facilities. TransCanada’s network of
wholly owned natural gas pipelines extends more than 60,000 kilometres (37,000
miles), tapping into virtually all major gas supply basins in North America.
TransCanada is one of the continent’s largest providers of gas storage and
related services with approximately 380 billion cubic feet of storage capacity.
A growing independent power producer, TransCanada owns, or has interests in,
over 11,700 megawatts of power generation in Canada and the United States.
TransCanada is developing one of North America’s largest oil delivery systems.
TransCanada’s common shares trade on the Toronto and New York stock exchanges
under the symbol TRP. For more information visit: www.transcanada.com
TransCanada
Forward-Looking Information
This news
release 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 document are intended to provide TransCanada
securityholders and potential investors with information regarding TransCanada
and its subsidiaries, including management’s assessment of TransCanada’s and its
subsidiaries’ future financial and operations plans and
outlook. Forward-looking statements in this document may include,
among others, statements regarding the anticipated business prospects and
financial performance of TransCanada and its subsidiaries, expectations or
projections about the future, and strategies and goals for growth and
expansion. 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
TransCanada’s 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 the current 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 to not place undue reliance on this forward-looking information,
which is given as of the date it is expressed in this news release or otherwise,
and to not 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.
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