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TC Energy's Coastal GasLink pipeline attracts interest

Oct. 07, 2019 3:19 PM ETTC Energy Corporation (TRP) Stock, TRP:CA StockTRPBy: Carl Surran, SA News Editor1 Comment
  • Abu Dhabi sovereign wealth fund Mubadala Investment is among the potential investors interested in acquiring TC Energy's (TRP +0.2%) Coastal GasLink natural gas pipeline, Bloomberg reports.
  • TC is working with an adviser to sell as much as 75% of Coastal GasLink, which is estimated to cost C$6.2B to build, although it is not clear how much the stake would fetch in a sale, according to the report.
  • The 416-mile Coastal GasLink pipeline would connect gas fields in western Canada's Montney shale formation with the $40B LNG Canada project on British Columbia's coast; it would enter service in 2023.

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