To advance North American natural gas pipeline expansions, TC Energy Corp. on Monday agreed to monetize a 40% stake in the Columbia systems via a joint venture (JV) with Global Infrastructure Partners (GIP). 

The Calgary midstream giant is selling off stakes to GIP in Columbia Gas Transmission LLC and Columbia Gulf Transmission LLC. TC would continue to operate the assets. The JV includes partnering in annual maintenance, modernization and sanctioned growth capital. 

The announcement “represents a major milestone in achieving our 2023 strategic priorities,” TC CEO François Poirier said. “To date, we have advanced our deleveraging goals by delivering on our $5 billion-plus asset divestiture program ahead of our year-end target, while maximizing the value of our assets and...