Binding Open Season Announced for the Keystone Pipeline

TC Energy, formerly known as TransCanada has announced an open season to solicit binding commitments for crude oil transportation services on the Keystone Pipeline System.

The pipeline runs from Hardisty, Alberta to markets on the US Gulf Coast.

Interested parties may submit binding bids for transportation capacity during the open season that will close at 12 pm MT on 19 July 2019.

Source:
worldpipelines

UGI to Buy Assets from TC Energy for $1.28 Billion

UGI Corp, a Pennsylvania based energy distributor would buy some assets of Columbia Midstream Group from TC Energy Corp, formerly known as TransCanada. The deal is set for nearly $1.28 billion to expand UGI’s midstream business.

“This transaction expands our midstream capabilities in the prolific gas producing region of the Southwest Appalachian Basin and provides an initial investment into both wet gas gathering and processing,” John Walsh, the chief executive officer of UGI, said.

With this deal, TC Energy could help finance the oft-delayed and controversial Keystone XL pipeline project and the new high-profile Coastal GasLink system project. These projects are likely to generate higher returns than these legacy assets.

Columbia Midstream Group operates in the Appalachian Basin and owns four natural gas gathering systems. It also has an interest in a company with gathering, processing and liquids assets, and a pipeline that runs through western Pennsylvania, eastern Ohio and northern West Virginia.

Source:
reuters

$1.15 Billion Deal Signed to Sell Stake in Northern Courier Pipeline

In a signed deal for approximately $1.15 billion, TC Energy Corp. formerly known as TransCanada, will sell an 85 per cent stake in its Northern Courier Pipeline to Alberta Investment Management Corp.

TC Energy will remain the operator of the pipeline and will retain a 15 per cent stake. The transaction is expected to close in the third quarter and the sale will help the company’s efforts to fund its capital program, said TC Energy chief executive Russ Girling.

The 56 miles (90 km) pipeline transports bitumen and diluent between the Fort Hills mine site in northern Alberta and Suncor Energy’s terminal north of Fort McMurray, Alta.

Source:
constructconnect

TransCanada to be Renamed to TC Energy

TransCanada announced on Wednesday that it will change its name to TC Energy.

After years of building hundreds of miles of oil and gas pipelines in both the United States and Mexico, TransCanada has decided to change its name to TX Energy to better reflect its performance as a major pipeline and power generator for all of North America.

"TC Energy better reflects the breadth of our business and acknowledges our proud history of safely and responsibly delivering the energy that millions of North Americans rely on every day," said TransCanada Chief Executive Russ Girling.

The decision will require shareholder approval. TransCanada intends to continue trading under “TRP” after adopting the new name.

Source:
Chron