HUGH MORGANBIOGRAPHY

Hugh Morgan is a Lead Financial Analyst and Engineer most recently employed within the Business Development and Business Operations units of TransCanada USA, the holding company for all natural gas pipeline and storage companies in the central and western United States. Over his tenure, he performed financial evaluations for all value added capital investment prospects (~200) generated by the Marketing and Business Development groups within TransCanada USA, working closely with marketers and developers to establish terms for pipeline and storage services marketable to end users as well as meeting or exceeding TransCanada financial benchmarks. Hugh has also managed the capital investment and operating budgets for Marketing and Business Development.

More recently, Hugh’s responsibilities were extended to asset rationalization and cost management within the Field Operations and Reliability groups supporting TransCanada USA. Growing from a decision by Executive Management to moderate spending not supported by underlying revenue, the Business Operations group was created to marry commercial and operational requirements to insure profitable operation of each business unit. Hugh was instrumental in establishing a financial framework for business decisions related to spending of maintenance capital and ongoing operating expenses. As a prime example, Hugh created and implemented a process to identify and prioritize major overhauls or replacements of compressor units and station balance of plant repairs on a major gas pipeline segment. Adoption of the process has resulted in overall savings estimated at $500 million.

Prior to his employment with TransCanada USA, Hugh was a Financial and Business Development Analyst with El Paso Corporation and a Reservoir Engineer and Reserves Engineering Manager with Coastal Corporation. He holds an BS in Mechanical Engineering from Rice University and a Masters of Petroleum Engineering from the University of Houston.