Dampier to Bunbury Natural Gas Pipeline

TC Energy reports strong third quarter 2023 operating and financial results and achieves mechanical completion on Coastal GasLink ahead of target

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Wednesday, November 8, 2023
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Project execution: Coastal GasLink achieves mechanical completion, while continuing to advance Southeast Gateway

Key Points: 
  • Project execution: Coastal GasLink achieves mechanical completion, while continuing to advance Southeast Gateway
    We are pleased to announce that the Coastal GasLink project has achieved mechanical completion ahead of our year-end target.
  • In October, the project achieved 100 per cent pipe installation following the final weld at the base of Cable Crane Hill.
  • Land rights and rights of way negotiations have closed, and all critical permits for onshore construction have been received.
  • Closing of this transaction is a major step towards reaching TC Energy’s 2024 year-end leverage target of 4.75 times debt-to-EBITDA.

Kinder Morgan to Purchase NextEra Energy Partner’s STX Midstream

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Monday, November 6, 2023
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Kinder Morgan, Inc. (NYSE: KMI) today announced that it has agreed to acquire NextEra Energy Partner’s South Texas assets, STX Midstream, for $1.815 billion.

Key Points: 
  • Kinder Morgan, Inc. (NYSE: KMI) today announced that it has agreed to acquire NextEra Energy Partner’s South Texas assets, STX Midstream, for $1.815 billion.
  • STX Midstream includes a 90% interest in the NET Mexico pipeline; MGI Enterprises, a PEMEX affiliate, owns the other 10%.
  • STX Midstream owns and operates Eagle Ford Midstream, a 158-mile residue line connecting the Eagle Ford basin to the Agua Dulce Hub in Nueces County, Texas.
  • Eagle Ford Midstream is connected to multiple pipeline systems, including KMI’s Tennessee Gas Pipeline, Kinder Morgan Tejas Pipeline and Natural Gas Pipeline Company of America.

TC Energy reports solid second quarter 2023 results, while significantly advancing Coastal GasLink and Southeast Gateway projects to planned cost and schedule

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Thursday, July 27, 2023
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CALGARY, Alberta, July 27, 2023 (GLOBE NEWSWIRE) -- TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) released its second quarter results today. François Poirier, TC Energy’s President and Chief Executive Officer commented, “Today’s announcement to separate our Natural Gas Pipelines and Power and Energy Solutions businesses from our Liquids Pipelines business will maximize the value of our assets. The separated industry-leading companies will have greater strategic focus to execute major projects, drive efficiencies and operational excellence, and enhanced flexibility to pursue disciplined growth." Poirier continued, “In addition, we have made significant progress on our 2023 strategic priorities. First, we continue to safely execute our secured capital program, including Coastal GasLink and Southeast Gateway which remain on planned cost and schedule. Second, we have significantly accelerated our deleveraging goal ahead of our year-end target with the sale of a 40 per cent equity interest in the Columbia Gulf and Columbia Gas systems for total cash proceeds of $5.2 billion. And third, we are safely and reliably operating our assets that provide essential services across North America, which is a testament to the dedication and hard work of our people.”

Key Points: 
  • We remain laser focused on our 2023 priorities and have achieved significant milestones during the first half of the year.
  • We continue to safely execute major projects like Coastal GasLink and Southeast Gateway that continue to track cost and schedule.
  • TC Energy will focus on natural gas, driven by strong long-term fundamentals and power and energy solutions, driven by nuclear, pumped hydro energy storage and new energy opportunities.
  • During the second quarter of 2023, we saw continued strong demand for our critical energy assets.