TC Energy Completes Pipe Installations at Troubled Coastal GasLink Project
(Reuters) — TC Energy said on Monday it had installed pipes across the entire route of its Coastal GasLink project, keeping the Canadian energy firm on track to complete the work by year-end.
The 670-km (416-mile) pipeline, co-owned with private equity firm KKR and Alberta Investment Management Corp, would carry natural gas to the LNG Canada facility on the west coast of British Columbia.
RELATED: 416-Mile Coastal GasLink Pipeline Project 98% Complete
The long-delayed C$14.5 billion project has been dogged by problems, including protests due to environmental concerns.
"With construction complete, we continue to progress a number of critical activities into 2024, such as clean-up, reclamation, and environmental protection activities," the company said in a statement.
Earlier this year, TC had sold a 40% interest in its Columbia Gas Transmission and Columbia Gulf Transmission pipelines to Global Infrastructure Partners (GIP) for C$5.3 billion ($3.82 billion) in a bid to raise more capital.
The company has also outlined plans to spin off its liquids pipeline business.
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