These excerpts taken from the TCLP 10-K filed Feb 27, 2009.
Our Relationship with TransCanada
One of our principal strengths is our relationship with TransCanada. TransCanada, a Canadian corporation, was founded in 1951 with the objective of transporting natural gas from Alberta to distant markets. Today, TransCanada is a major North American energy infrastructure company engaged in numerous aspects of the energy industry but is primarily focused on natural gas transmission and power generation services. TransCanada owns approximately 36,500 miles of wholly-owned natural gas pipelines, interests in an additional 4,800 miles of natural gas pipelines, approximately 370 Bcf of storage capacity and, including facilities that are under construction or in development, also owns, operates, and/or controls approximately 10,900 megawatts of power generation. Also, currently under construction is Keystone, an oil pipeline consisting of 2,147 miles of pipe that will initially transport crude oil from Hardisty, Alberta, Canada to U.S. Midwest markets and to Cushing, Oklahoma.
TransCanada provides access to a significant pool of management talent and strong relationships throughout the energy industry. We expect to pursue strategic acquisitions in a disciplined manner and to have the opportunity to participate jointly with TransCanada in reviewing potential acquisitions, including transactions that we would be unable to pursue on our own. Additionally, we may have the opportunity to make acquisitions directly from TransCanada in the future. TransCanada, however, is under no obligation to allow us to participate in any of its pipeline or energy infrastructure acquisitions, nor is TransCanada required to offer any of its assets to us.
See Item 5. Market for Registrants Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities for more information regarding TransCanadas ownership in us.
See Item 5. Market for Registrants Common Equity, Related Stockholder