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Released February 19, 2024 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--TC Energy Corporation (NYSE:TRP) (Calgary, Alberta) is answering growing calls for natural gas transportation, and has the receipts to prove it: The midstream titan placed about C$5.3 billion (US$3.93 billion) worth of projects in service globally in 2023, with fourth-quarter core profits from its U.S. natural gas pipelines jumping 7.9% from 2022 to C$1.23 billion (US$912.68 million), and the Canadian segment jumping 35% to C$1.03 billion (US$764.28 million). A slew of big-ticket projects is primed to further these gains in 2024. Industrial Info is tracking more than US$11.5 billion worth of active and planned projects from TC Energy, nearly US$7 billion of which is nearing or under construction.
Click on the image at right for a graph detailing TC Energy's active and planned projects, by project type.
Toward the end of 2023, TC Energy reached mechanical completion and started commissioning activities on its widely anticipated Coastal GasLink pipeline project, a 422-mile system that will carry natural gas from the Montney Shale to LNG Canada's complex in Kitimat, British Columbia. LNG Canada will process the gas into liquefied natural gas (LNG) exports. In accordance with their arrangement, LNG Canada fulfilled a C$200 million (US$148.35 million) incentive payment to the Coastal GasLink project in the fourth quarter, which TC Energy included in its quarterly results.
"With construction and required commissioning activities now complete, post-construction and reclamation activities will continue throughout 2024," TC Energy said in a press release. The project remains on track with its cost estimate of approximately C$14.5 billion (US$10.76 billion) and Coastal GasLink LP will continue to pursue contractor cost recoveries. The Coastal GasLink partnership, which also includes KKR & Company Incorporated (NYSE:KKR) (New York) and Alberta pension manager AIMco (Edmonton, Alberta), is seeking C$1.2 billion (US$890.54 million) from contractor Pacific Atlantic Pipeline Construction Limited, a subsidiary of the Bonatti Group (Parma, Italy), over construction delays.
The 422-mile, US$4.28 billion mainline is designed to carry up to 2.1 billion cubic feet per day (later expandable to 5 billion cubic feet) of gas from a development near Dawson Creek to the coast. It will be supported by the construction of four new compressor stations, each ranging in value from US$100 million to US$120 million. Subscribers to Industrial Info's Global Market Intelligence (GMI) Oil & Gas Pipeline Project Database can read detailed reports on the mainline and the compressor stations near Tumbler Ridge, Houston, Fraser Lake and Dawson Creek.
TC Energy forecast full-year capital spending of C$8.5 billion to C$9 billion (US$6.3 billion to US$6.7 billion), according to a quarterly earnings-related press release.
In Alberta, TC Energy is finishing up its NGTL Intra-Basin System Expansion, which is designed to improve natural gas deliveries from the Western Canadian Sedimentary Basin to markets throughout Alberta on the TC Energy's Nova Gas Transmission Limited (NGTL) pipeline system. A 74-mile, US$250 million segment will carry up to 309 million standard cubic feet per day from Valleyview to Fox Creek, Alberta, and will be supported by US$170 million in new compressor station units in Valleyview. Subscribers can read detailed reports on the pipeline segment and compressor units.
The NGTL system also is seeking permits for its proposed, 35-mile Leming Loop pipeline from Peace River to Kirby Point, British Columbia, and is performing detailed design work for its proposed, 15-mile North Lateral Loop pipeline from Peace River to Fort Saskatchewan, British Columbia. Each is designed to transport up to 150 million standard cubic feet per day of natural gas. Subscribers can read detailed reports on the Leming Loop and North Lateral Loop.
In the U.S., TC Energy subsidiary Columbia Gulf Transmission LLC (Houston, Texas) began construction toward the end of 2023 on an 8.14-mile, US$155 million segment of its East Lateral Xpress Pipeline from Jefferson Parish to Plaquemines Parish, Louisiana, which will carry up to 725 million standard cubic feet per day out of Columbia Gulf's existing EL-300 pipeline. The project is expected to wrap up in the fourth quarter of 2024. Subscribers can learn more from a detailed project report.
During the fourth quarter of 2023, TC Energy finalized the sale of a 40% non-controlling equity interest in Columbia Gulf to Global Infrastructure Partners (GIP) (New York, New York) for C$5.3 billion (US$3.9 billion). The deal had been announced in July; for more information, see July 25, 2023, article - TC Energy to Sell 40% in Columbia Gas Transmission Systems.
Subscribers to Industrial Info's GMI Project and Plant databases can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of reports for active and planned projects from TC Energy.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
Click on the image at right for a graph detailing TC Energy's active and planned projects, by project type.Toward the end of 2023, TC Energy reached mechanical completion and started commissioning activities on its widely anticipated Coastal GasLink pipeline project, a 422-mile system that will carry natural gas from the Montney Shale to LNG Canada's complex in Kitimat, British Columbia. LNG Canada will process the gas into liquefied natural gas (LNG) exports. In accordance with their arrangement, LNG Canada fulfilled a C$200 million (US$148.35 million) incentive payment to the Coastal GasLink project in the fourth quarter, which TC Energy included in its quarterly results.
"With construction and required commissioning activities now complete, post-construction and reclamation activities will continue throughout 2024," TC Energy said in a press release. The project remains on track with its cost estimate of approximately C$14.5 billion (US$10.76 billion) and Coastal GasLink LP will continue to pursue contractor cost recoveries. The Coastal GasLink partnership, which also includes KKR & Company Incorporated (NYSE:KKR) (New York) and Alberta pension manager AIMco (Edmonton, Alberta), is seeking C$1.2 billion (US$890.54 million) from contractor Pacific Atlantic Pipeline Construction Limited, a subsidiary of the Bonatti Group (Parma, Italy), over construction delays.
The 422-mile, US$4.28 billion mainline is designed to carry up to 2.1 billion cubic feet per day (later expandable to 5 billion cubic feet) of gas from a development near Dawson Creek to the coast. It will be supported by the construction of four new compressor stations, each ranging in value from US$100 million to US$120 million. Subscribers to Industrial Info's Global Market Intelligence (GMI) Oil & Gas Pipeline Project Database can read detailed reports on the mainline and the compressor stations near Tumbler Ridge, Houston, Fraser Lake and Dawson Creek.
TC Energy forecast full-year capital spending of C$8.5 billion to C$9 billion (US$6.3 billion to US$6.7 billion), according to a quarterly earnings-related press release.
In Alberta, TC Energy is finishing up its NGTL Intra-Basin System Expansion, which is designed to improve natural gas deliveries from the Western Canadian Sedimentary Basin to markets throughout Alberta on the TC Energy's Nova Gas Transmission Limited (NGTL) pipeline system. A 74-mile, US$250 million segment will carry up to 309 million standard cubic feet per day from Valleyview to Fox Creek, Alberta, and will be supported by US$170 million in new compressor station units in Valleyview. Subscribers can read detailed reports on the pipeline segment and compressor units.
The NGTL system also is seeking permits for its proposed, 35-mile Leming Loop pipeline from Peace River to Kirby Point, British Columbia, and is performing detailed design work for its proposed, 15-mile North Lateral Loop pipeline from Peace River to Fort Saskatchewan, British Columbia. Each is designed to transport up to 150 million standard cubic feet per day of natural gas. Subscribers can read detailed reports on the Leming Loop and North Lateral Loop.
In the U.S., TC Energy subsidiary Columbia Gulf Transmission LLC (Houston, Texas) began construction toward the end of 2023 on an 8.14-mile, US$155 million segment of its East Lateral Xpress Pipeline from Jefferson Parish to Plaquemines Parish, Louisiana, which will carry up to 725 million standard cubic feet per day out of Columbia Gulf's existing EL-300 pipeline. The project is expected to wrap up in the fourth quarter of 2024. Subscribers can learn more from a detailed project report.
During the fourth quarter of 2023, TC Energy finalized the sale of a 40% non-controlling equity interest in Columbia Gulf to Global Infrastructure Partners (GIP) (New York, New York) for C$5.3 billion (US$3.9 billion). The deal had been announced in July; for more information, see July 25, 2023, article - TC Energy to Sell 40% in Columbia Gas Transmission Systems.
Subscribers to Industrial Info's GMI Project and Plant databases can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of reports for active and planned projects from TC Energy.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
