TC Energy Completes Sale of Coastal GasLink Stake
5/25/2020
(Reuters) — Pipeline operator TC Energy said on Monday it had completed the sale of a 65% stake in its Coastal GasLink pipeline, which will move gas from northeast British Columbia to the Pacific Coast.
Private equity firm KKR & Co Inc said in December that it and Alberta Investment Management Corp would jointly purchase the 65% Coastal GasLink stake.
The company said the partnership also includes a credit agreement with a syndicate of banks to fund the majority of the construction costs.
The C$6.6-billion pipeline, to be operated by TC Energy, had earlier faced opposition from an indigenous group, saying the project interfered with hunting and trapping rights.
Related News
Related News
Sign up to Receive Our Newsletter
- Kinder Morgan Proposes 290-Mile Gas Pipeline Expansion Spanning Three States
- 1,000-Mile Pipeline Exit Plan by Hope Gas Alarms West Virginia Producers
- Valero Plans to Shut California Refinery, Takes $1.1 Billion Hit
- Three Killed, Two Injured in Accident at LNG Construction Site in Texas
- Boardwalk’s Texas Gas Launches Open Season for 2 Bcf/d Marcellus-to-Louisiana Pipeline Expansion
- New Alternatives for Noise Reduction in Gas Pipelines
- Construction Begins on Ghana's $12 Billion Petroleum Hub, But Not Without Doubts
- DOE Considers Cutting Over $1.2 Billion in Carbon Capture Project Funding
- Valero Plans to Shut California Refinery, Takes $1.1 Billion Hit
- Newsom Seeks to Aid Struggling Refiners Following Valero’s California Exit
Pipeline Project Spotlight
Owner:
East African Crude Oil Pipeline Company
Project:
East African Crude Oil Pipeline (EACOP)
Type:
TotalEnergies in discussions with a Chinese company after Russian supplier Chelpipe was hit by sanctions.
Length:
902 miles (1,443 km)
Capacity:
200,000 b/d
Start:
2022
Completion:
2025
Comments