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TransCanada Corp. announced that it cleared one of the final regulatory hurdles necessary to begin construction of a $5-billion (US$3.78-billion) pipeline project serving a proposed natural gas export facility in British Columbia.

The British Columbia Oil and Gas Commission extended about a dozen permits for TransCanada to start work on the 560-mile (900-kilometre) Prince Rupert pipeline project, the Vancouver-based developer and operator said in a statement Tuesday. The pipeline will connect supplies of natural gas in the Montney production fields in northeastern British Columbia to Pacific Northwest LNG’s planned liquefaction export terminal near Prince Rupert Island.

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Developers are racing to build export terminals to sell the power-plant fuel on international markets amid a glut of supplies and low domestic prices.