TC Energy nears $726 million deal with indigenous Canadian groups for stake in 16,000-mile natural gas pipeline system
(UI) – According to Bloomberg, TC Energy is close to selling a stake in its natural gas pipeline system to indigenous communities in Western Canada.
With support from Alberta’s government, a provincial agency has conditionally approved a C$1 billion ($726 million) loan guarantee to finance the deal. Indigenous groups from Alberta, British Columbia, and Saskatchewan are involved in the consortium.
The deal, involving TC Energy’s NGTL System, which spans over 24,000 km (approximately 16,000 miles) and transports natural gas in Canada’s western provinces, is expected to be announced on July 30, with finalization in late August.
This sale is part of TC Energy’s strategy to reduce debt after cost overruns on the Coastal GasLink pipeline project. Last year, TC Energy surpassed its C$5 billion divestiture target by selling a 40% stake in two U.S. pipeline networks. The company plans to divest another C$3 billion in assets soon.
This story was originally reported by Bloomberg.
Related News
From Archive
- Inside Sempra’s 72-mile pipeline with 18 major trenchless crossings
- Trump vetoes bill to finish $1.3 billion Colorado water pipeline
- PHMSA warns of heat risks in aging plastic gas distribution pipelines following deadly Pennsylvania explosion
- Infrastructure failure releases 100,000 gallons of wastewater in Houston; repairs ongoing
- OSHA seeks $1.2 million fine after fatal trench collapse in Connecticut
- Worm-like robot burrows underground to cut power line installation costs
- First tunnel boring machines complete testing for Hudson Tunnel Project
- Infrastructure failure releases 100,000 gallons of wastewater in Houston; repairs ongoing
- Construction jobs stumble into 2026 after weak year
- NWPX grows water infrastructure portfolio with Colorado precast facility
Comments