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.
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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
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