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| Delaware                                                       |   | 52-2135448                              |
|----------------------------------------------------------------|--------|-----------------------------------------|
| (State or other jurisdiction of incorporation or organization) |   | (I.R.S. Employer Identification Number) |
|                                                           |   |                                    |

|  717 Texas Street, Suite 2400       |   |       |
|------------------------------------------|--------|------------|
|  Houston, Texas                     |   | 77002-2761 |
| (Address of principal executive offices) |   | (Zip code) |

|   |  877-290-2772                                         |   |
|--------|------------------------------------------------------------|--------|
|   |  (Registrant's telephone number, including area code) |   |

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| TABLE OF CONTENTS                                                                 | Page No.                                                                                               |
|-----------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------|
|                                                                              |                                                                                                   |   |
| GLOSSARY                                                                          |                                                                                                   | 3 |
|                                                                              |                                                                                                   |   |
| PART I                                                                            | FINANCIAL INFORMATION                                                                                  |   |
|                                                                              |                                                                                                   |   |
|  Item 1.                                                                | Financial Statements                                                                                   |  4 |
|                                                                              |                                                                                                   |   |
|                                                                              | Consolidated Statement of Income – Three months ended March 31, 2010 and 2009               |   |
|                                                                              | Consolidated Statement of Comprehensive Income – Three months ended March 31, 2010 and 2009 |   |
|                                                                              | Consolidated Balance Sheet – March 31, 2010 and December 31, 2009                           |   |
|                                                                              | Consolidated Statement of Cash Flows – Three months ended March 31, 2010 and 2009           |   |
|                                                                              | Consolidated Statement of Equity – Three months ended March 31, 2010              |   |
|                                                                              | Notes to Consolidated Financial Statements                                                             |   |
|                                                                              |                                                                                                   |   |
|  Item 2.                                                                     | Management’s Discussion and Analysis of Financial Condition and Results of Operations       | 16 |
|                                                                              | Results of Operations of TC PipeLines, LP                                                              |   |
|                                                                              | Liquidity and Capital Resources of TC PipeLines, LP                                                    |   |
|                                                                              | Liquidity and Capital Resources of Our Pipeline Systems                                                |   |
|                                                                              |                                                                                                   |   |
|  Item 3.                                                                     | Quantitative and Qualitative Disclosures about Market Risk                                             |  30 |
|                                                                              |                                                                                                   |   |
|  Item 4.                                                                     | Controls and Procedures                                                                                |  32 |
|                                                                              |                                                                                                   |   |
|  PART II                                                                     | OTHER INFORMATION                                                                                      |   |
|                                                                              |                                                                                                   |   |
| Item 1.                                                                      | Legal Proceedings                                                                                      | 34 |
|                                                                              |                                                                                                   |   |
|  Item 1A.                                                                    | Risk Factors                                                                                      |  34 |
|                                                                              |                                                                                                   |   |
|  Item 6.                                                                     | Exhibits                                                                                          |  36 |
|                                                                              |                                                                                                   |   |
|  All amounts are stated in United States dollars unless otherwise indicated. |                                                                                                   |

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| Alberta Hub                                                                                                                                                                                                                                   | The grouping of gas gathering lines, processing, storage facilities in large scale and also a "liquid" pricing point recognized for trading in Alberta, Canada                                                                        |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ASC                                        | Accounting Standards Codification                                                                                                                                                                                                     |
| CAA                                                                                                                                                                                                                                           | U.S. Environmental Protection Agency's Clean Air Act                                                                                                                                                                                  |
| Design capacity                                                                                                                                                                                                                | Pipeline capacity available to transport natural gas based on system facilities and design conditions                                                                                                                                 |
| EPA                                                                                                                                                                                                                                           | U.S. Environmental Protection Agency                                                                                                                                                                                                  |
| FERC                                                                                                                                                                                                                                          | Federal Energy Regulatory Commission                                                                                                                                                                                                  |
| GAAP                                                                                                                                                                                                                                          | U.S. generally accepted accounting principles                                                                                                                                                                                         |
| Gas exiting the WCSB                                                                                                                                                                                                                          | Net of the supply of and demand for natural gas in the WCSB region that is available for transportation to downstream markets; where supply represents WCSB production adjusted for injections into and withdrawals from WCSB storage |
| General Partner                                                                                                                                                                                                                               | TC PipeLines GP, Inc.                                                                                                                                                                                                                 |
| GL Cost and Revenue Study                                                                                                                                                                                                                     | Cost and Revenue study filed by Great Lakes with the FERC in response to the FERC's November 19, 2009 Order                                                                                                                           |
| GL Rate Proceeding                                                                                                                                                                                                             | FERC investigation into Great Lakes' rates pursuant to Section 5 of the NGA                                                                                                                                                           |
| Great Lakes                                                                                                                                                                                                                                   | Great Lakes Gas Transmission Limited Partnership                                                                                                                                                                                      |
| LIBOR                                                                                                                                                                                                                                         | London Interbank Offered Rate                                                                                                                                                                                                         |
| MDth/d                                                                                                                                                                                                                                        | Thousand dekatherms per day                                                                                                                                                                                                           |
| MMcf/d                                                                                                                                                                                                                                        | Million cubic feet per day                                                                                                                                                                                                            |
| NGA                                                                                                                                                                                                                                           | Natural Gas Act                                                                                                                                                                                                                       |
| North Baja                                                                                                                                                                                                                                    | North Baja Pipeline, LLC                                                                                                                                                                                                              |
| Northern Border                                                                                                                                                                                                                               | Northern Border Pipeline Company                                                                                                                                                                                                      |
| NOV                                                                                                                                                                                                                                           | Notice of Violation                                                                                                                                                                                                                   |
| November 2009 Order                                                                                                                                                                                                            | FERC order issued in FERC Docket No. RP10-149 on November 19, 2009 instituting GL Rate Proceeding                                                                                                                                     |
| Other Pipes                                                                                                                                                                                                                                   | North Baja and Tuscarora                                                                                                                                                                                                              |
| Our pipeline systems                                                                                                                                                                                                                          | Great Lakes, Northern Border, North Baja and Tuscarora                                                                                                                                                                                |
| Partnership                                                                                                                                                                                                                                   | TC PipeLines, LP and its subsidiaries                                                                                                                                                                                                 |
| Partnership Agreement                                                                                                                                                                                                               | Second Amended and Restated Agreement of Limited Partnership                                                                                                                                                                          |
| SEC                                                                                                                                                                                                                            | Securities and Exchange Commission                                                                                                                                                                                                    |
| Senior Credit Facility                                                                                                                                                                                                                        | TC PipeLines' revolving credit and term loan agreement                                                                                                                                                                                |
| TransCanada                                                                                                                                                                                                                                   | TransCanada Corporation and its subsidiaries                                                                                                                                                                                          |
| Tuscarora                                                                                                                                                                                                                                     | Tuscarora Gas Transmission Company                                                                                                                                                                                                    |
| U.S.                                                                                                                                                                                                                                          | United States of America                                                                                                                                                                                                              |
| WCSB                                                                                                                                                                                                                                          | Western Canada Sedimentary Basin                                                                                                                                                                                                      |
| Yuma Lateral                                                                                                                                                                                                    | An expansion of the North Baja pipeline from the Mexico/Arizona border to Yuma, Arizona                                                                                                                                               |

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| (unaudited)                                               |   | Three months ended March 31, |   |
|-----------------------------------------------------------|--------|------------------------------|--------|
| (millions of dollars except per common unit amounts)      |   | 2010                         |   |   | 2009(a) |   |
|                                                      |   |                         |   |   |   |   |
| Equity income from investment in Great Lakes (Note 2)     |   |                         | 16.3   |   |   |   | 19.5 |   |
| Equity income from investment in Northern Border (Note 3) |   |                         | 14.6   |   |   |   | 15.6 |   |
| Transmission revenues                                     |   |                         | 17.4   |   |   |   | 16.8 |   |
| Operating expenses                                        |   |                         | (3.4   | ) |   |   | (2.9 | ) |
| General and administrative                                |   |                         | (1.3   | ) |   |   | (1.2 | ) |
| Depreciation                                              |   |                         | (3.7   | ) |   |   | (3.6 | ) |
| Financial charges, net and other                          |   |                         | (6.2   | ) |   |   | (8.3 | ) |
| Net income                                                |   |                         | 33.7   |   |   |   | 35.9 |   |
|                                                      |   |                         |   |   |   |   |   |   |
| Net income allocation (Note 6)                            |   |                         |   |   |   |   |   |   |
| Common units                                              |   |                         | 33.0   |   |   |   | 28.5 |   |
| General partner                                           |   |                         | 0.7    |   |   |   | 3.3 |   |
|                                                      |   |                         | 33.7   |   |   |   | 31.8 |   |
|                                                      |   |                         |   |   |   |   |   |   |
| Net income per common unit (Note 6)                       |   | $                            | 0.71   |   |   | $ | 0.82 |   |
|                                                      |   |                         |   |   |   |   |   |   |
| Weighted average common units outstanding (millions)      |   |                         | 46.2   |   |   |   | 34.9 |   |
|                                                      |   |                         |   |   |   |   |   |   |
| Common units outstanding, end of the period (millions)    |   |                         | 46.2   |   |   |   | 34.9 |   |

| (unaudited)                                                                             |   | Three months ended March 31, |   |
|-----------------------------------------------------------------------------------------|--------|------------------------------|--------|
| (millions of dollars)                                                                   |   | 2010                         |   |   | 2009 |   |
|                                                                                    |   |                         |   |   |   |   |
| Net income(a)                                                                           |   |                         | 33.7   |   |   |   | 35.9 |   |
| Other comprehensive income/(loss)                                                       |   |                         |   |   |   |   |   |   |
|    Change associated with hedging transactions (Note 10)                 |   |                         | 1.6    |   |   |   | 1.4 |   |
|    Change associated with hedging transactions of investees              |   |                         | -      |   |   |   | (0.1 | ) |
|                                                                                    |   |                         | 1.6    |   |   |   | 1.3 |   |
| Total comprehensive income                                                              |   |                         | 35.3   |   |   |   | 37.2 |   |
|                                                                                    |   |                         |   |   |   |   |   |   |
| (a) Recast as discussed in Note 1.                                                      |   |                         |   |   |   |   |   |   |
|                                                                                    |   |                         |   |   |   |   |   |   |
| The accompanying notes are an integral part of these consolidated financial statements. |   |

----

| (unaudited)                                                                                   |   |           |    |   |              |   |
|-----------------------------------------------------------------------------------------------|--------|----------------|---------|--------|-------------------|--------|
| (millions of dollars)                                                                         |   | March 31, 2010 |    |   | December 31, 2009 |   |
| Assets                                                                                        |   |           |    |   |              |   |
| Current Assets                                                                                |   |           |    |   |              |   |
|      Cash and cash equivalents                                       |   |           | 4.0     |   |              |   | 3.1 |   |
|      Accounts receivable and other (Note 11)                         |   |           | 8.0     |   |              |   | 8.6 |   |
|                                                                                          |   |           | 12.0    |   |              |   | 11.7 |   |
| Investment in Great Lakes (Note 2)                                                            |   |           | 694.2   |   |              |   | 691.2 |   |
| Investment in Northern Border (Note 3)                                                        |   |           | 521.3   |   |              |   | 523.0 |   |
| Plant, property and equipment                                                                 |   |           |    |   |              |   |   |   |
|    (net of $122.0 accumulated depreciation; 2009 – $118.3)               |   |           | 321.4   |   |              |   | 318.0 |   |
| Goodwill                                                                                      |   |           | 130.2   |   |              |   | 130.2 |   |
| Other assets                                                                                  |   |           | 0.9     |   |              |   | 1.0 |   |
|                                                                                          |   |           | 1,680.0 |   |              |   | 1,675.1 |   |
|                                                                                          |   |           |    |   |              |   |   |   |
| Liabilities and Partners' Equity                                                              |   |           |    |   |              |   |   |   |
| Current Liabilities                                                                           |   |           |    |   |              |   |   |   |
|      Accounts payable and accrued liabilities                        |   |           | 3.3     |   |              |   | 4.5 |   |
|      Accrued interest                                                |   |           | 2.5     |   |              |   | 1.3 |   |
|      Current portion of long-term debt (Note 5)                      |   |           | 53.4    |   |              |   | 53.4 |   |
|      Current portion of fair value of derivative contracts (Note 10) |   |           | 13.7    |   |              |   | 12.9 |   |
|                                                                                          |   |           | 72.9    |   |              |   | 72.1 |   |
| Long-term debt (Note 5)                                                                       |   |           | 494.9   |   |              |   | 487.9 |   |
| Fair value of derivative contracts and other (Note 10)                                        |   |           | 9.3     |   |              |   | 11.6 |   |
|                                                                                          |   |           | 577.1   |   |              |   | 571.6 |   |
|                                                                                          |   |           |    |   |              |   |   |   |
| Partners' Equity                                                                              |   |           |    |   |              |   |   |   |
|      Common units                                                    |   |           | 1,103.4 |   |              |   | 1,105.6 |   |
|      General partner                                                 |   |           | 23.6    |   |              |   | 23.6 |   |
|      Accumulated other comprehensive loss                            |   |           | (24.1   | )      |              |   | (25.7 | ) |
|                                                                                          |   |           | 1,102.9 |   |              |   | 1,103.5 |   |
|                                                                                          |   |           | 1,680.0 |   |              |   | 1,675.1 |   |
|                                                                                          |   |           |    |   |              |   |   |   |
| Subsequent events (Note 12)                                                                   |   |           |    |   |              |   |   |   |
|                                                                                          |   |           |    |   |              |   |   |   |
| The accompanying notes are an integral part of these consolidated financial statements.       |   |           |    |   |              |
|                                                                                          |   |           |    |   |              |   |   |   |
|                                                                                          |   |           |    |   |              |   |   |   |

----

| (unaudited)                                                                             |   | Three months ended March 31, |   |
|-----------------------------------------------------------------------------------------|--------|------------------------------|--------|
| (millions of dollars)                                                                   |   | 2010                         |   |   | 2009(a) |   |
|                                                                                    |   |                         |   |   |   |   |
| CASH GENERATED FROM OPERATIONS                                                          |   |                         |   |   |   |   |
| Net income                                                                              |   |                         | 33.7   |   |   |   | 35.9 |   |
| Depreciation                                                                            |   |                         | 3.7    |   |   |   | 3.6 |   |
| Amortization of other assets                                                            |   |                         | 0.1    |   |   |   | 0.1 |   |
| Equity income in excess of distributions received from Great Lakes                      |   |                         | (0.6   | ) |   |   | (7.0 | ) |
| Increase in long-term liabilities                                                       |   |                         | 0.1    |   |   |   | - |   |
| Equity allowance for funds used during construction                                     |   |                         | (0.2   | ) |   |   | 0.1 |   |
| Increase/(decrease) in operating working capital (Note 8)                               |   |                         | 0.6    |   |   |   | 1.0 |   |
|                                                                                    |   |                         | 37.4   |   |   |   | 33.7 |   |
|                                                                                    |   |                         |   |   |   |   |   |   |
| INVESTING ACTIVITIES                                                                    |   |                         |   |   |   |   |   |   |
| Cumulative distributions in excess of equity earnings:                                  |   |                         |   |   |   |   |   |   |
|      Northern Border                                           |   |                         | 1.7    |   |   |   | 8.6 |   |
| Investment in Great Lakes                                                               |   |                         | (2.3   | ) |   |   | - |   |
| Investment in Northern Border (Note 3)                                                  |   |                         | -      |   |   |   | (4.3 | ) |
| Capital expenditures (Note 4)                                                           |   |                         | (8.5   | ) |   |   | (0.5 | ) |
| Increase in investing working capital (Note 8)                                          |   |                         | -      |   |   |   | (0.1 | ) |
|                                                                                    |   |                         | (9.1   | ) |   |   | 3.7 |   |
|                                                                                    |   |                         |   |   |   |   |   |   |
| FINANCING ACTIVITIES                                                                    |   |                         |   |   |   |   |   |   |
| Distributions paid (Note 7)                                                             |   |                         | (34.4  | ) |   |   | (27.7 | ) |
| Long-term debt issued (Note 5)                                                          |   |                         | 10.0   |   |   |   | - |   |
| Long-term debt repaid (Note 5)                                                          |   |                         | (3.0   | ) |   |   | - |   |
| Due to North Baja's former parent                                                       |   |                         | -      |   |   |   | (5.1 | ) |
|                                                                                    |   |                         | (27.4  | ) |   |   | (32.8 | ) |
|                                                                                    |   |                         |   |   |   |   |   |   |
| (Decrease)/increase in cash and cash equivalents                                        |   |                         | 0.9    |   |   |   | 4.6 |   |
| Cash and cash equivalents, beginning of period                                          |   |                         | 3.1    |   |   |   | 8.4 |   |
|                                                                                    |   |                         |   |   |   |   |   |   |
| Cash and cash equivalents, end of period                                                |   |                         | 4.0    |   |   |   | 13.0 |   |
|                                                                                    |   |                         |   |   |   |   |   |   |
| Interest payments made                                                                  |   |                         | 2.4    |   |   |   | 4.8 |   |
|                                                                                    |   |                         |   |   |   |   |   |   |
| (a) Recast as discussed in Note 1.                                                      |   |                         |   |   |   |   |   |   |
|                                                                                    |   |
| The accompanying notes are an integral part of these consolidated financial statements. |   |

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| (unaudited)                                   | Common Units                                                                    |   |        | General Partner                                                                                                                       |        | Accumulated Other Comprehensive (Loss)/Income(a) |                                                                            | Partners' Equity |      |
|-----------------------------------------------|---------------------------------------------------------------------------------|--------|-------------|---------------------------------------------------------------------------------------------------------------------------------------|-------------|--------------------------------------------------|---------------------------------------------------------------------------------|------------------|-----------|
|                                          | (millions                                                                       |   | (millions   |                                                                                                                                  | (millions   |                                             | (millions                                                                       |             | (millions |   | (millions |
|                                          | of units)                                                                       |   | of dollars) |                                                                                                                                  | of dollars) |                                             | of dollars)                                                                     |             | of units) |   | of dollars) |
|                                          |                                                                            |   |        |                                                                                                                                  |        |                                             |                                                                            |             |      |   |   |   |   |   |   |   |   |
| Partners' equity at December 31, 2009         |        46.2                                  |   |        |            1,105.6                                                             |        |                                             |        23.6                                  |             |      |                      (25.7 | )  |   |        46.2 |   |   |             1,103.5 |   |
| Net income                                    |              - |   |        |                 33.0                                  |        |                                             |          0.7                       |             |      |                             - |   |   |              - |   |   |                  33.7 |   |
| Distributions paid                            |              - |   |        |                (33.7                                       | )      |                                             |        (0.7                                  | )           |      |                             - |   |   |              - |   |   |                (34.4 | )  |
| Excess purchase price over acquired assets(b) |              - |   |        |                  (1.5                            | )      |                                             |              - |             |      |                             - |   |   |              - |   |   |                  (1.5 | )  |
| Other comprehensive income                    |              - |   |        |                       - |        |                                             |              - |             |      |                         1.6 |   |   |              - |   |   |                    1.6 |   |
| Partners' equity at March 31, 2010            |       46.2                                        |   |        |           1,103.4                                                                   |        |                                             |       23.6                                        |             |      |                     (24.1) |   |   |       46.2 |   |   |           1,102.9 |   |

----

----

| Summarized Consolidated Great Lakes Balance Sheet |   |      |   |   |         |   |
|---------------------------------------------------|--------|-----------|--------|--------|--------------|--------|
| (unaudited)                                       |   | March 31, |   |   | December 31, |   |
| (millions of dollars)                             |   | 2010      |   |   | 2009         |   |
| Assets                                            |   |      |   |   |         |   |
| Cash and cash equivalents                         |   |      | -      |   |         |   | 0.1 |   |
| Other current assets                              |   |      | 88.9   |   |         |   | 83.0 |   |
| Plant, property and equipment, net                |   |      | 860.9  |   |         |   | 873.3 |   |
|                                              |   |      | 949.8  |   |         |   | 956.4 |   |
| Liabilities and Partners' Equity                  |   |      |   |   |         |   |   |   |
| Current liabilities                               |   |      | 36.2   |   |         |   | 40.3 |   |
| Deferred credits                                  |   |      | 4.0    |   |         |   | 3.8 |   |
| Long-term debt, including current maturities      |   |      | 402.0  |   |         |   | 411.0 |   |
| Partners' capital                                 |   |      | 507.6  |   |         |   | 501.3 |   |
|                                              |   |      | 949.8  |   |         |   | 956.4 |   |

| Summarized Consolidated Great Lakes Income Statement |   |                               |   |
|------------------------------------------------------|--------|------------------------------------|--------|
| (unaudited)                                          |   |  Three months ended March 31, |   |
| (millions of dollars)                                |   | 2010                               |   |   | 2009 |   |
| Transmission revenues                                |   |                               | 72.9   |   |   |   | 82.5 |   |
| Operating expenses                                   |   |                               | (14.2  | ) |   |   | (16.0 | ) |
| Depreciation                                         |   |                               | (14.3  | ) |   |   | (14.6 | ) |
| Financial charges, net and other                     |   |                               | (7.9   | ) |   |   | (8.2 | ) |
| Michigan business tax                                |   |                               | (1.5   | ) |   |   | (1.8 | ) |
| Net income                                           |   |                               | 35.0   |   |   |   | 41.9 |   |
|                                                 |   |                               |   |   |   |   |   |   |
|                                                 |   |                               |   |   |   |   |   |   |

----

| Summarized Northern Border Balance Sheet                           |   |      |    |   |         |   |
|--------------------------------------------------------------------|--------|-----------|---------|--------|--------------|--------|
| (unaudited)                                                        |   | March 31, |    |   | December 31, |   |
| (millions of dollars)                                              |   | 2010      |    |   | 2009         |   |
| Assets                                                             |   |      |    |   |         |   |
| Cash and cash equivalents                                          |   |      | 17.1    |   |         |   | 16.9 |   |
| Other current assets                                               |   |      | 23.8    |   |         |   | 30.2 |   |
| Plant, property and equipment, net                                 |   |      | 1,329.2 |   |         |   | 1,343.1 |   |
| Other assets                                                       |   |      | 24.0    |   |         |   | 24.2 |   |
|                                                               |   |      | 1,394.1 |   |         |   | 1,414.4 |   |
| Liabilities and Partners' Equity                                   |   |      |    |   |         |   |   |   |
| Current liabilities                                                |   |      | 39.2    |   |         |   | 38.0 |   |
| Deferred credits and other                                         |   |      | 10.8    |   |         |   | 8.3 |   |
| Long-term debt, including current maturities                       |   |      | 543.6   |   |         |   | 564.6 |   |
| Partners' equity                                                   |   |      |    |   |         |   |   |   |
|      Partners' capital                    |   |      | 803.5   |   |         |   | 806.6 |   |
|      Accumulated other comprehensive loss |   |      | (3.0    | )      |         |   | (3.1 | ) |
|                                                               |   |      | 1,394.1 |   |         |   | 1,414.4 |   |

| Summarized Northern Border Income Statement |   |                         |   |
|---------------------------------------------|--------|------------------------------|--------|
| (unaudited)                                 |   | Three months ended March 31, |   |
| (millions of dollars)                       |   | 2010                         |   |   | 2009 |   |
| Transmission revenues                       |   |                         | 69.1   |   |   |   | 74.5 |   |
| Operating expenses                          |   |                         | (18.0  | ) |   |   | (18.5 | ) |
| Depreciation                                |   |                         | (15.4  | ) |   |   | (15.3 | ) |
| Financial charges, net and other            |   |                         | (6.0   | ) |   |   | (9.1 | ) |
| Net income                                  |   |                         | 29.7   |   |   |   | 31.6 |   |
|                                        |   |                         |   |   |   |   |   |   |

----

| (unaudited)                             |   | March 31, |   |   | December 31, |   |
|-----------------------------------------|--------|-----------|--------|--------|--------------|--------|
| (millions of dollars)                   |   | 2010      |   |   | 2009         |   |
|                                    |   |      |   |   |         |   |
| Senior Credit Facility due 2011         |   |      | 491.0  |   |         |   | 484.0 |   |
| 7.13% Series A Senior Notes due 2010    |   |      | 48.2   |   |         |   | 48.2 |   |
| 7.99% Series B Senior Notes due 2010    |   |      | 4.4    |   |         |   | 4.4 |   |
| 6.89% Series C Senior Notes due 2012    |   |      | 4.7    |   |         |   | 4.7 |   |
|                                    |   |      | 548.3  |   |         |   | 541.3 |   |
| Less: current portion of long-term debt |   |      | 53.4   |   |         |   | 53.4 |   |
|                                    |   |      | 494.9  |   |         |   | 487.9 |   |

| (unaudited)           |                                                                                                                                                                                                                                                                                                |
|-----------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (millions of dollars) |                                                                                                                                                                                                                                                                                                |
| 2010                  |                                               53.4            |
| 2011                  |                                             491.8                       |
| 2012                  |                                                 3.1 |
|                  |                                             548.3                       |
|                  |                                                                                                                                                                                                                                                                                                |

----

| (unaudited)                                                |   | Three months ended March 31, |   |
|------------------------------------------------------------|--------|------------------------------|--------|
| (millions of dollars except per unit amounts)              |   | 2010                         |   |   | 2009 |   |
| Net income(a)                                              |   |                         | 33.7   |   |   |   | 35.9 |   |
| North Baja's contribution prior to acquisition             |   |                         | -      |   |   |   | (4.1 | ) |
| Net income allocated to partners(b)                        |   |                         | 33.7   |   |   |   | 31.8 |   |
|                                                       |   |                         |   |   |   |   |   |   |
| Net income allocated to general partner:                   |   |                         |   |   |   |   |   |   |
|    General partner interest                 |   |                         | (0.7   | ) |   |   | (0.6 | ) |
|    Incentive distribution income allocation |   |                         | -      |   |   |   | (2.7 | ) |
|                                                       |   |                         | (0.7   | ) |   |   | (3.3 | ) |
| Net income allocable to common units                       |   |                         | 33.0   |   |   |   | 28.5 |   |
| Weighted average common units outstanding (millions)       |   |                         | 46.2   |   |   |   | 34.9 |   |
| Net income per common unit                                 |   | $                            | 0.71   |   |   | $ | 0.82 |   |

| (unaudited)                                          |   | Three months ended March 31, |   |
|------------------------------------------------------|--------|------------------------------|--------|
| (millions of dollars)                                |   | 2010                         |   |   | 2009(a) |   |
|                                                 |   |                         |   |   |   |   |
| Decrease/(increase) in accounts receivable and other |   |                         | 0.6    |   |   |   | (0.9 | ) |
| (Decrease)/increase in accounts payable              |   |                         | (1.2   | ) |   |   | 1.0 |   |
| Increase in accrued interest                         |   |                         | 1.2    |   |   |   | 0.8 |   |
|                                                 |   |                         | 0.6    |   |   |   | 0.9 |   |
| Increase in investing working capital                |   |                         | -      |   |   |   | (0.1 | ) |
| Decrease in operating working capital                |   |                         | 0.6    |   |   |   | 1.0 |   |

----

| (unaudited)                                                                       |   | Three months ended March 31, |   |
|-----------------------------------------------------------------------------------|--------|------------------------------|--------|
| (millions of dollars)                                                             |   | 2010                         |   |   | 2009 |   |
|                                                                              |   |                         |   |   |   |   |
| Costs charged by TransCanada and its affiliates:                                  |   |                         |   |   |   |   |
|      Great Lakes                                         |   |                         | 7.6    |   |   |   | 7.3 |   |
|      Northern Border                                     |   |                         | 6.9    |   |   |   | 6.3 |   |
|      North Baja(a)                                       |   |                         | 0.8    |   |   |   | 0.8 |   |
|      Tuscarora                                           |   |                         | 0.9    |   |   |   | 0.7 |   |
| Impact on the Partnership's net income:                                           |   |                         |   |   |   |   |   |   |
|      Great Lakes                                         |   |                         | 3.4    |   |   |   | 3.2 |   |
|      Northern Border                                     |   |                         | 3.2    |   |   |   | 2.9 |   |
|      North Baja(a)                                       |   |                         | 0.7    |   |   |   | 0.6 |   |
|      Tuscarora                                           |   |                         | 0.9    |   |   |   | 0.7 |   |
|                                                                              |   |                         |   |   |   |   |   |   |
|                                                                              |   |                         |   |   |   |   |   |   |
| (unaudited)                                                                       |   | March 31,                    |   |   | December 31, |   |
| (millions of dollars)                                                             |   |                         | 2010   |   |   |   | 2009 |   |
|                                                                              |   |                         |   |   |   |   |   |   |
| Amount payable to TransCanada and its affiliates for costs charged in the period: |   |                         |   |   |   |
|      Great Lakes                                         |   |                         | 2.9    |   |   |   | 6.6 |   |
|      Northern Border                                     |   |                         | 2.1    |   |   |   | 2.6 |   |
|      North Baja                                          |   |                         | 0.4    |   |   |   | 0.4 |   |
|      Tuscarora                                           |   |                         | 0.9    |   |   |   | 0.6 |   |

----

| (unaudited)           |   | March 31, |   |   | December 31, |   |
|-----------------------|--------|-----------|--------|--------|--------------|--------|
| (millions of dollars) |   | 2010      |   |   | 2009         |   |
| Accounts receivable   |   |      | 6.8    |   |         |   | 7.4 |   |
| Inventory             |   |      | 0.6    |   |         |   | 0.6 |   |
| Prepayments           |   |      | 0.4    |   |         |   | 0.5 |   |
| Other assets          |   |      | 0.2    |   |         |   | 0.1 |   |
|                  |   |      | 8.0    |   |         |   | 8.6 |   |

----

----

| ●   | changes in the ability of Great Lakes and Northern Border to continue to make distributions and North Baja and Tuscarora to continue to generate positive operating cash flows at their current levels; |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ●   | the impact of unsold capacity on Great Lakes and Northern Border being greater or less than expected; |
|----------------|-------------------------------------------------------------------------------------------------------|

| ●   | competitive conditions in our industry and the ability of our pipeline systems to market pipeline capacity on favorable terms, which is affected by: |
|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------|

|     o   | future demand for and prices of natural gas; |
|---------------------------------------|----------------------------------------------|

|     o   | level of natural gas basis differentials; |
|---------------------------------------|-------------------------------------------|

|     o   | competitive conditions in the overall natural gas and electricity markets; |
|---------------------------------------|----------------------------------------------------------------------------|

|     o   | availability and relative cost of supplies of Canadian and United States (U.S.) natural gas, including the shale gas resources such as the Horn River and Montney deposits in Western Canada, along with U.S. Rockies, Mid-Continent, and Marcellus gas developments; |
|---------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|     o   | competitive developments by U.S. and Canadian natural gas transmission companies; |
|---------------------------------------|-----------------------------------------------------------------------------------|

|     o   | the availability of additional storage capacity and current storage levels; |
|---------------------------------------|-----------------------------------------------------------------------------|

|     o   | the level of liquefied natural gas imports; |
|---------------------------------------|---------------------------------------------|

|     o   | weather conditions that impact supply and demand; and |
|---------------------------------------|-------------------------------------------------------|

|     o   | the ability of shippers to meet credit worthiness requirements; |
|---------------------------------------|-----------------------------------------------------------------|

| ●   | the impact of current and future laws, rulings and governmental regulations, particularly Federal Energy Regulatory Commission (FERC) regulations and rate proceedings, and proposed and pending legislation by Congress and proposed and pending regulations by the U.S. Environmental Protection Agency (EPA) on us and our pipeline systems; |
|---------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ●   ●   | the ability of Great Lakes to negotiate a stipulation and agreement in the Great Lakes rate proceeding;changes in relative cost structures of natural gas producing basins, such as changes in royalty programs, that may impact the development of the Western Canada Sedimentary Basin (WCSB); |
|-------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ●   | decisions by other pipeline companies to advance projects which will affect our pipeline systems and the regulatory, financing and construction risks related to construction of interstate natural gas pipelines and additional facilities; |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ●   | the ability of our pipeline systems to identify and/or consummate expansion projects which are accretive growth opportunities for the Partnership; |
|---------------------|----------------------------------------------------------------------------------------------------------------------------------------------------|

| ●   | the performance of contractual obligations by customers of our pipeline systems; |
|----------------|----------------------------------------------------------------------------------|

| ●   | the imposition of entity level taxation by states on partnerships; |
|----------------|--------------------------------------------------------------------|

| ●   | operating hazards, natural disasters, weather-related delays, casualty losses and other matters beyond our control; |
|----------------|---------------------------------------------------------------------------------------------------------------------|

| ●   | the Partnership’s ability to identify and/or consummate accretive growth opportunities from TransCanada Corporation or others; |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------|

| ●   | our ability to control operating costs and the ability of TransCanada Corporation to complete its reorganization of U.S. pipeline operations, including the operations of our pipeline systems, and realize cost savings; and |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ●   | general economic conditions in North America, which impact: |
|----------------|-------------------------------------------------------------|

|     o   | the debt and equity capital markets and our ability to access these markets at reasonable costs; |
|---------------------------------------|--------------------------------------------------------------------------------------------------|

|     o   | the overall demand for natural gas by end users; and |
|---------------------------------------|------------------------------------------------------|

|     o   | natural gas prices. |
|---------------------------------------|---------------------|

----

|                    | Ownership                                                                                                                                | System Specifications                                      |
|-------------------------|------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------|
| Percentage              | Date Acquired                                                                                                                            | Length (Miles)                                             | Capacity(MMcf/d) |
|  Great Lakes  | 46.45                                                                                                                                    |  February 2007                                        | 2,115 |  2,400 (summer design) 2,500 (winter design) |
| Northern Border         | 30.0020.0050.00                                                                                                                          |  May 1999 April 2006                             | 1,249 |  2,400 (design) |
|  North Baja   | 100.00                                                                                                                                   |  July 2009                                            | 80 |  500 (FERC licensed southbound) 600 (northbound design) |
| Tuscarora               | 49.0049.00       2.00              100.00 |  September 2000 December 2006 December 2007 | 240 |  230 (design) |

----

----

|       |                          | As at April 1, 2010                 |
|-----------------|-------------------------------|-------------------------------------|
|            |   Our Ownership Interest |  Firm Contracted Capacity %(a) | Weighted Average Remaining Contract Life (in Years)(c) |
| Great Lakes     | 46.45%                        | 87%                                 |                               1.9 |
|            |                          |                                |   |
| Northern Border | 50%                           | 75%                                 |                               2.4 |
|            |                          |                                |   |
| North Baja      | 100%                          | (b) 79% southbound 64% northbound   |                             16.5 |
|            |                          |                                |   |
| Tuscarora       | 100%                          | 97%                                 |                             10.4 |

----

----

----

----

----

| The shaded areas in the tables below disclose the results from Great Lakes and Northern Border, representing 100 per cent of each entity's operations for the given period. |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                        |   | For the three months ended March 31, 2010 |   |   | For the three months ended March 31, 2009 |   |
| (unaudited)(millions of dollars)                                                                                                                                            |   | PipeLP |   |   | OtherPipes(a) |   |   | Corp(b) |   |   | GLGT |   | NBPC(c) |   | PipeLP |   |   | OtherPipes(a) |   |   | Corp(b) |   |   | GLGT |   | NBPC(c)  |
| Transmission revenues                                                                                                                                                       |   |   | 17.4 |   |   |   | 17.4 |   |   |   | - |   |   |   | 72.9 |   |   |   | 69.1 |   |   |   | 8.4 |   |   |   | 8.4 |   |   |   | - |   |   | 82.5 |   | 74.5 |   |
| Operating expenses                                                                                                                                                          |   |   | (3.4 | ) |   |   | (3.4 | ) |   |   | - |   |   |   | (14.2 | ) |   |   | (18.0 | ) |   |   | (1.4 | ) |   |   | (1.4 | ) |   |   |     - |   |   | (16.0 | ) | (18.5 | ) |
| General and administrative                                                                                                                                                  |   |   | (1.3 | )  |   |   | - |   |   |   |  (1.3 | )  |   |   |  - |   | -  |   |   |   | (1.2 | )  |   |   | - |   |   |   | (1.2 | )  |   |  - |   | -  |   |
|                                                                                                                                                                        |   |   | 12.7 |   |   |   | 14.0 |   |   |   | (1.3 | ) |   |   | 58.7 |   | 51.1 |   |   |   | 5.8 |   |   |   | 7.0 |   |   |   | (1.2 | )  |   | 66.5 |   | 56.0 |   |
| Depreciation                                                                                                                                                                |   |   | (3.7 | ) |   |   | (3.7 | ) |   |   | - |   |   |   | (14.3 | ) | (15.4 | ) |   |   | (1.8 | ) |   |   | (1.8 | ) |   |   | - |   |   | (14.6 | ) | (15.3 | ) |
| Financial charges, net and other                                                                                                                                            |   |   | (6.2 | ) |   |   | (1.0 | ) |   |   | (5.2 | ) |   |   | (7.9 | ) | (6.0 | ) |   |   | (7.3 | ) |   |   | (1.1 | ) |   |   | (6.2 | ) |   | (8.2 | ) | (9.1 | )  |
| Michigan business tax                                                                                                                                                       |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (1.5 | ) | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   | (1.8 | ) | - |   |
|                                                                                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 35.0 |   |   |   | 29.7 |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 41.9 |   | 31.6 |   |
| Equity income                                                                                                                                                               |   |   | 30.9 |   |   |   | - |   |   |   | - |   |   |   | 16.3 |   |   |   | 14.6 |   |   |   | 35.1 |   |   |   | - |   |   |   | - |   |   |   | 19.5 |   |   |   | 15.6 |   |
| Net income prior to recast                                                                                                                                                  |   |   | 33.7 |   |   |   | 9.3 |   |   |   | (6.5 | ) |   |   | 16.3 |   |   |   | 14.6 |   |   |   | 31.8 |   |   |   | 4.1 |   |   |   | (7.4 | ) |   |   | 19.5 |   |   |   | 15.6 |   |
| North Baja's contribution prior to acquisition(d)                                                                                                                           |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 4.1 |   |   |   | 4.1 |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Net income(d)                                                                                                                                                               |   |   | 33.7 |   |   |   | 9.3 |   |   |   | (6.5 | ) |   |   | 16.3 |   |   |   | 14.6 |   |   |   | 35.9 |   |   |   | 8.2 |   |   |   | (7.4 | ) |   |   | 19.5 |   |   |   | 15.6 |   |

----

----

| (unaudited)                                                 |   | Three months ended March 31, |   |
|-------------------------------------------------------------|--------|------------------------------|--------|
| (millions of dollars except per common unit amounts)        |   | 2010                         |   |   | 2009 |   |
| Net income(a)                                               |   |                         | 33.7   |   |   |   | 35.9 |   |
| North Baja's contribution prior to acquisition(a)           |   |                         | -      |   |   |   | (4.1 | ) |
| Net income prior to recast                                  |   |                         | 33.7   |   |   |   | 31.8 |   |
| Add:                                                        |   |                         |   |   |   |   |   |   |
| Cash distributions from Great Lakes(b)                      |   |                         | 15.7   |   |   |   | 12.5 |   |
| Cash distributions from Northern Border(b)                  |   |                         | 16.4   |   |   |   | 24.2 |   |
| Cash flows provided by North Baja's operating activities    |   |                         | 4.7    |   |   |   | - |   |
| Cash flows provided by Tuscarora's operating activities     |   |                         | 7.2    |   |   |   | 7.2 |   |
|                                                        |   |                         | 44.0   |   |   |   | 43.9 |   |
| Less:                                                       |   |                         |   |   |   |   |   |   |
| Equity income from investment in Great Lakes                |   |                         | (16.3  | ) |   |   | (19.5 | ) |
| Equity income from investment in Northern Border            |   |                         | (14.6  | ) |   |   | (15.6 | ) |
| North Baja's net income                                     |   |                         | (5.4   | ) |   |   | - |   |
| Tuscarora's net income                                      |   |                         | (3.9   | ) |   |   | (4.1 | ) |
|                                                        |   |                         | (40.2  | ) |   |   | (39.2 | ) |
| Partnership cash flows before general partner distributions |   |                         | 37.5   |   |   |   | 36.5 |   |
| General partner distributions(c)                            |   |                         | (0.7   | ) |   |   | (3.2 | ) |
| Partnership cash flows                                      |   |                         | 36.8   |   |   |   | 33.3 |   |
| Cash distributions declared                                 |   |                         | (34.4  | ) |   |   | (27.7 | ) |
| Cash distributions declared per common unit(d)              |   | $                            | 0.730  |   |   | $ | 0.705 |   |
| Cash distributions paid                                     |   |                         | (34.4  | ) |   |   | (27.7 | ) |
| Cash distributions paid per common unit(d)                  |   | $                            | 0.730  |   |   | $ | 0.705 |   |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   | Payments Due by Period |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------|
| (unaudited)                                                                      (millions of dollars) |   | Total                  |   |   | Less Than 1 Year |   |   | Long-term Portion |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                   |   |   |   |   |   |   |   |
| Senior Credit Facility due 2011                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |                   | 491.0 |   |   |   | - |   |   |   | 491.0 |   |
| 7.13% Series A Senior Notes due 2010                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                   | 48.2 |   |   |   | 48.2 |   |   |   | - |   |
| 7.99% Series B Senior Notes due 2010                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                   | 4.4 |   |   |   | 4.4 |   |   |   | - |   |
| 6.89% Series C Senior Notes due 2012                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                   | 4.7 |   |   |   | 0.8 |   |   |   | 3.9 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                   | 548.3 |   |   |   | 53.4 |   |   |   | 494.9 |   |

----

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   | Payments Due by Period |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------|--------|
| (unaudited)                                                                      (millions of dollars) |   | Total                  |   |   | Less than 1 year |   |   | Long-term Portion |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                   |   |   |   |   |   |   |   |
| 8.74% series Senior Notes due 2010 to 2011                                                                                                                                                                                                                                                                                                                                                                                                                           |   |                   | 20.0   |   |   |   | 10.0 |   |   |   | 10.0 |   |
| 6.73% series Senior Notes due 2011 to 2018                                                                                                                                                                                                                                                                                                                                                                                                                           |   |                   | 72.0   |   |   |   | 9.0 |   |   |   | 63.0 |   |
| 9.09% series Senior Notes due 2012 to 2021                                                                                                                                                                                                                                                                                                                                                                                                                           |   |                   | 100.0  |   |   |   | - |   |   |   | 100.0 |   |
| 6.95% series Senior Notes due 2019 to 2028                                                                                                                                                                                                                                                                                                                                                                                                                           |   |                   | 110.0  |   |   |   | - |   |   |   | 110.0 |   |
| 8.08% series Senior Notes due 2021 to 2030                                                                                                                                                                                                                                                                                                                                                                                                                           |   |                   | 100.0  |   |   |   | - |   |   |   | 100.0 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                   | 402.0  |   |   |   | 19.0 |   |   |   | 383.0 |   |

|                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   | Payments Due by Period |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------|--------|
| (unaudited)                                                                      (millions of dollars) |   | Total                  |   |   | Less than 1 year |   |   | Long-term Portion |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                   |   |   |   |   |   |   |   |
| $250 million credit agreement due 2012                                                                                                                                                                                                                                                                                                                                                                                                                               |   |                   | 194.0  |   |   |   | - |   |   |   | 194.0 |   |
| 6.24% Senior Notes due 2016                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                   | 100.0  |   |   |   | - |   |   |   | 100.0 |   |
| 7.50% Senior Notes due 2021                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                   | 250.0  |   |   |   | - |   |   |   | 250.0 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                   | 544.0  |   |   |   | - |   |   |   | 544.0 |   |

----

----

| ●   | Swaps – contractual agreements between two parties to exchange streams of payments over time according to specified terms. The Partnership and our pipeline systems enter into interest rate swaps to mitigate the impact of changes in interest rates. |
|---------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ●   | Options – contractual agreements to convey the right, but not the obligation, for the purchaser to buy or sell a specific amount of a financial instrument at a fixed price, either at a fixed date or at any time within a specified period. The Partnership and our pipeline systems enter into option agreements to mitigate the impact of changes in interest rates. |
|---------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

----

| ●   | rates and charges; |
|---------------------|--------------------|

| ●   | operating terms and conditions of service including creditworthiness requirements; |
|---------------------|------------------------------------------------------------------------------------|

| ●   | types of services our pipeline systems may offer to their customers; |
|---------------------|----------------------------------------------------------------------|

| ●   | construction of new facilities; |
|---------------------|---------------------------------|

| ●   | extension or abandonment of service and facilities; |
|---------------------|-----------------------------------------------------|

| ●   | accounts and records; |
|---------------------|-----------------------|

| ●   | depreciation and amortization policies; |
|---------------------|-----------------------------------------|

| ●   | income tax allowance policies; |
|---------------------|--------------------------------|

|  ●   | acquisition and disposition of facilities; |
|---------------------------|--------------------------------------------|

| ●   | initiation and discontinuation of services; |
|---------------------|---------------------------------------------|

| ●   | standards of conduct business relations with certain affiliates; and |
|---------------------|----------------------------------------------------------------------|

| ●   | integrity and safety of our pipeline systems and related operations. |
|---------------------|----------------------------------------------------------------------|

----

| ●   | the federal regulations under which our pipeline systems will operate in the future; |
|----------------|-------------------------------------------------------------------------------------------|

|  ●   | the effect that regulation will have on financial position, results of operations and cash flows of our pipeline systems and ourselves; or |
|----------------------|-------------------------------------------------------------------------------------------------------------------------------------------------|

| ●   | whether our cash flow will be adequate to make distributions to unitholders. |
|----------------|------------------------------------------------------------------------------|

----

| 10.1 | Yuma Transfer Agreement dated March 5, 2010 by and between Gas Transmission Northwest Corporation and North Baja Pipeline, LLC.  |
|------|---------------------------------------------------------------------------------------------------------------------------------------|

| 31.1 | Certification of Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.  |
|------|--------------------------------------------------------------------------------------------------------------------|

| 31.2 | Certification of Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.  |
|------|---------------------------------------------------------------------------------------------------------------|

| 32.1 | Certification of Principal Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.  |
|------|---------------------------------------------------------------------------------------------------------------|

| 32.2 | Certification of Principal Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. |
|------|---------------------------------------------------------------------------------------------------------|

----

----