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If the project goes ahead, it will be a game changer for Canada’s natural gas producers, which currently face steep discounts for their product because of sagging demand in the United States and a lack of other export markets.

TransCanada expects to award contracts for the construction to four consortiums within the next two months, Gateman said. Those contractors will be a mix of local and international players with experience building in mountainous terrain, he said.

The company also expects to provide a cost update around the same time, he said, adding: “I’ll say that that was an estimate in 2011 dollars and if you take that to 2018 dollars, it’s a little bit more, but it’s not substantially more.”

The $4.8 billion price tag in 2011 dollars would equate to $5.3 billion now, according to the Bank of Canada inflation calculator.

Bateman also said TransCanada had worked hard to keep costs down on the project, just as the LNG Canada partners have worked to bring down costs on the terminal project.

“We contributed our part in terms of the pipeline budget and they did their part on the facility, which is why it looks like it is successfully coming together,” he said.

LNG Canada is a joint venture between Royal Dutch Shell Plc , PetroChina Co Ltd, Mitsubishi Corp and Korea Gas Corp. TransCanada will own and operate the pipeline.

© Thomson Reuters 2018