TC Energy Corporation - President & CEO, Russ Girling
President & CEO, Russ Girling
Source: Bloomberg
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  • TC Energy (TRP) has received approval from the Canadian Government to begin construction of its 2021 NGTL System Expansion Project
  • The C$2.3-billion project will add a further 344 kilometres of pipeline to the existing NGTL system, which will deliver natural gas from the Western Canada Sedimentary Basin
  • Compressor station field work is expected to begin in December, with  pipeline construction activities due to begin in  January next year
  • The approval comes with 35 conditions, which include the restoration of certain habitats and the formation of certain Indigenous Working Groups
  • TC Energy (TRP) is currently up 1.78 per cent to $56.62 per share

TC Energy (TRP) has received approval from the Canadian Government to begin construction of its 2021 NGTL System Expansion Project.

The C$2.3-billion project forms part of a wider $9.9 billion NGTL infrastructure program, and will provide incremental increase to natural gas deliveries from the Western Canada Sedimentary Basin through an additional 344 kilometres of pipeline, from west of Red Deer to near Grande Prairie, Alberta.

With the approval now secured, compressor station field work is expected to begin in December, with pipeline construction activities due to begin in January next year.

This work will continue through to 2022, ultimately providing a greater energy capacity to local distribution companies, power producers, petrochemical companies, and natural gas producers across Quebec, Ontario, Manitoba, Saskatchewan, Alberta and the United States.

Tracy Robinson, Executive Vice-President of TC Energy and President of both Canadian Natural Gas Pipelines and Coastal GasLink, said she is pleased to be moving forward with the project.

“This capacity is vital to our customers, our industry and to the people who rely on the energy we deliver.

“We estimate this project will create up to 5,500 well-paying construction jobs for both Indigenous and non-Indigenous workers and will bring a much-needed economic boost to communities across Canada, especially in Alberta,” she added.

However, the approval comes with 35 binding conditions, which include the restoration of 3,840 hectares of caribou habitat – roughly 30 times the area that would be impacted by the project – and the formation of Indigenous Working Groups to assist with the planning of restoration and other activities.

Seamus O’Regan, Canada’s Minister of Natural Resources, said the government wants “good projects to get done”.

“This means meeting our duty to meaningfully consult with potentially impacted Indigenous communities and  addressing risks to the environment and species at risk, particularly,” he continued.

TC Energy (TRP) is currently up 1.78 per cent to $56.62 per share at 2:56pm EDT.

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