Tc Energy

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…

TC Energy Corp. has built the transition from natural gas and oil into its strategy, with a clear eye on how to deliver value even as the global supply mix evolves, CEO François Poirier said Tuesday. TC’s Sustainability Energy Forum offered the executive team a platform to detail the roadmap that the North American midstream…

Some relief could be on the horizon for Bakken Shale oil producers facing punishingly low prices for their associated natural gas, as efforts to add takeaway capacity out of the basin are advancing. North Dakota Pipeline Authority Director Justin Kringstad provided an update on two projects during a press briefing on June 13. Kinder Morgan…

Work has stopped on a stretch of the Coastal GasLink pipeline that would ultimately feed the LNG Canada facility under construction in British Columbia (BC) after provincial regulators discovered erosion and sediment control issues.  The BC Environmental Assessment Office’s (EAO) Compliance and Enforcement Branch issued orders last week to halt work along a 12-mile stretch…

An estimated 150,000 boe/d of natural gas and oil production was offline and thousands of residents had been evacuated early Monday as Western and Central Alberta dealt with more than 100 wildfires, with as many as 30 considered out of control. “We note that there has yet to be reports of significant damage to infrastructure,…

Natural gas futures fizzled on Monday, giving up ground as forecasts pointed to mild May weather and as production held at stout levels. The June Nymex gas futures contract settled at $2.318/MMBtu, down 9.2 cents day/day. The prompt month had gained 5.5 cents on Friday. The July contract on Monday shed 8.0 cents to $2.498.…

TC Energy Corp. is working to expand natural gas takeaway capacity from the Western Canadian Sedimentary Basin (WCSB) amid record demand for the fuel across North America, management said. CEO François Poirier hosted a conference call last Friday to discuss the Calgary-based pipeline giant’s first quarter earnings. He was joined by Greg Grant, president of…

TC Energy Corp. is forecasting a roughly 30% year/year increase in capital expenditures (capex) this year, with the lion’s share allocated for natural gas pipeline expansions in the United States, Canada and Mexico. Calgary-based TC, which reports in Canadian currency (C$1.00/US 75 cents), has set a capital budget of $11.5-12 billion for 2023, up from…

TC Energy Corp. has again upwardly revised the expected cost of the Coastal GasLink (CGL) natural gas pipeline in Western Canada, citing challenges on multiple fronts. TC now expects the project to cost C$14.5 ($10.9 billion), up from C$11.2 billion ($8.4 billion) forecasted in its third-quarter 2022 earnings report. “The project continues to face material…