Exhibit 5.4
Stikeman Elliott LLP Barristers & Solicitors
4300 Bankers Hall West, 888-3rd Street S.W., Calgary, Canada T2P 5C5
Tel: (403) 266-9000 Fax: (403) 266-9034 www.stikeman.com
May 12, 2015
TransCanada PipeLines Limited
TransCanada Trust
450-1st Street S.W.
Calgary, Alberta, Canada
T2P 5H1
Dear Sirs/Mesdames:
RE: TransCanada PipeLines Limited and TransCanada Trust
(together, the “Companies”)
We hereby consent to the references to this firm on the face page of the prospectus, under the captions, “Legal Matters”, “Interests of Experts” and “Documents Filed as Part of the Registration Statement” in the prospectus, and consent to being named and to the use of our opinion under the heading “Certain Canadian Federal Income Tax Considerations” in the prospectus included as part of the registration statement on Form F-10 (Registration No. 333-203859) of the Companies.
In giving this consent, we do not thereby admit that we come within the category of persons whose consent is required by the Securities Act of 1933 or the rules and regulations promulgated thereunder.
| Yours truly, | CALGARY |
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| “Stikeman Elliott LLP” | VANCOUVER |
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| TORONTO |
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| MONTREAL |
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| OTTAWA |
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| NEW YORK |
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| LONDON |
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| SYDNEY |