TC Energy to unveil NGTL expansion plan in December, CEO says
TRP•TC Energy plans to unveil a “meaningful” expansion plan for its NGTL natural gas pipeline system in December, with potential significant expansion after 2029. The system currently moves an average of 15 billion cubic feet of gas per day and is fully subscribed.
1. Expansion plan expected
TC Energy CEO François Poirier said the company will unveil a “meaningful” expansion plan for its NGTL natural gas pipeline system in December. The company is assessing commercial interest in a potentially significant expansion after 2029, but Poirier declined to say how much capacity it is considering adding.
2. Capacity and negotiations
NGTL moves an average of 15 billion cubic feet of natural gas per day and is fully subscribed. TC Energy has committed to adding 1 billion cubic feet per day of capacity before 2029, and Poirier said requests for service have increased dramatically.
3. Investment framework
TC Energy is negotiating a new investment framework with NGTL customers and wants improved risk-return terms to address expansion costs and bring returns in line with its U.S. projects. Poirier said the company is hopeful it can reach a deal but could ask the Canada Energy Regulator to adjudicate.
