- TC Energy agreed to sell its Prince Rupert natural gas pipeline project to two partners in Ksi Lisims LNG, a proposed Canadian export terminal
- The Calgary-based pipeline operator signed an agreement with Nisga’a Nation and Western LNG regarding the purchase and sale of all outstanding shares in Prince Rupert Gas Transmission Holdings Ltd.
- The partnership is a wholly owned subsidiary of TC Energy and the developer of a natural gas pipeline project in B.C
- TC Energy Corp. last traded at C$54.67 per share
TC Energy (TSX:TRP) agreed to sell its Prince Rupert natural gas pipeline project to two partners in Ksi Lisims LNG, a proposed Canadian export terminal.
The Calgary-based pipeline operator signed an agreement with Nisga’a Nation and Western LNG regarding the purchase and sale of all outstanding shares in natural gas project, Prince Rupert Gas Transmission Holdings Ltd. and the limited partnership interests in Prince Rupert Gas Transmission Limited Partnership.
The partnership is a wholly owned subsidiary of TC Energy and the developer of a natural gas pipeline project in B.C.
TC Energy’s president and chief executive officer, François Poirier, said in a news release that this agreement will see Indigenous co-ownership and development of an integrated LNG project.
“Enabling LNG development in British Columbia is good for Indigenous communities, our customers, supports the long-term growth of the WCSB and global emissions reduction through the export of responsibly produced Canadian natural gas,” he said.
The transaction is expected to close in Q2 2024.
TC Energy Corp. is an energy infrastructure company consisting of pipeline and power generation assets in Canada, the United States and Mexico.
TC Energy Corp. last traded at C$54.67 per share.
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