The project is being developed in partnership with Enbridge Gas Distribution and Union Gas, as part of the TransCanada’s $500m Canadian Mainline expansion project.
TransCanada president and CEO Russ Girling said: "The approval of the application will allow TransCanada to move forward with this important facilities expansion, which will provide our customers with the flexibility to source growing supplies of Marcellus gas from the US Northeast.
"We are committed to ensuring that we continue to provide diverse, reliable and economic sources of natural gas while minimizing our environmental footprint and impact to nearby residents and landowners."
The gas transmission pipeline will connect TransCanada’s existing Canadian Mainline system in Vaughan, Ontario to the new Enbridge Gas Distribution pipeline facilities.
This cooperative strategy is expected to optimize the provision of natural gas pipeline service required in the Greater Toronto Area while continuing to offer a safe and reliable source of natural gas to homes, businesses, schools and hospitals in Ontario and Eastern Canada.
Scheduled to be commissioned by third quarter 2016, the King’s North project also forms a part of the company’s plan to invest $12bn in small-to-medium sized projects for planned completion by 2017.
Additionally, TransCanada is planning to advance a number of growth initiatives which include $34bn of commercially secured projects, beyond 2017.
