RUS | ENG | All
Enter the email or login, that you used for registration.
If you do not remember your password, simply leave this field blank and you will receive a new, along with a link to activate.

Not registered yet?
Welcome!

2019-07-04 15:55:00

TC ENERGY SELLS U.S.: $1.275 BLN

TC ENERGY SELLS U.S.: $1.275 BLN

TC ENERGY - CALGARY, Alberta, July 02, 2019 -- TC Energy Corporation (TSX:TRP) (NYSE:TRP) (TC Energy) announced today that it has entered into an agreement to sell its U.S. midstream assets held by its subsidiary, Columbia Midstream Group, to UGI Energy Services, LLC, a subsidiary of UGI Corporation (NYSE: UGI), for approximately US$1.275 billion (Cdn$1.7 billion). The transaction is expected to close in the third quarter of 2019 subject to closing adjustments and customary regulatory approvals.

Columbia Midstream Group, which operates in the Appalachian Basin, owns four natural gas gathering systems and an interest in a company with gathering, processing and liquids assets. These assets connect production to markets throughout western Pennsylvania, eastern Ohio and northern West Virginia. This sale does not include any interest in Columbia Energy Ventures Company (CEVCO), which is TC Energy's minerals business in the Appalachian basin.

"The sale of Columbia Midstream Group advances our ongoing efforts to prudently fund our industry-leading portfolio of high-quality natural gas pipeline, liquids pipelines and power generation projects, while maximizing value for our shareholders," said Russ Girling, TC Energy President and Chief Executive Officer.

"Along with the sale of Coolidge and partial monetization of Northern Courier we now expect to realize approximately Cdn$3.4 billion of proceeds from announced portfolio management activities in 2019. When combined with our significant and growing cash flow, access to capital markets and potential additional portfolio management activities, we are well-positioned to fund our $30 billion secured capital program in a manner consistent with achieving targeted credit metrics in 2019 and thereafter."

TC Energy continues to own and operate its significant network of interstate pipelines in the Appalachian Basin with its Columbia Gas Transmission system, which transports low-cost natural gas supply from the production region to markets in the U.S., including LNG export facilities that serve international markets.

Wells Fargo Securities, LLC acted as exclusive financial advisor to TC Energy on the transaction.

----- 


Earlier:

TC ENERGY SELLS U.S.: $1.275 BLN
2019, May, 5, 10:55:00
TRANSCANADA CHANGED NAME TO TC ENERGY
We changed the name of our company from TransCanada to TC Energy, following the approval of our shareholders at our Annual and Special Meeting of Shareholders on May 3, 2019.
TC ENERGY SELLS U.S.: $1.275 BLN
2019, May, 4, 11:20:00
TRANSCANADA'S NET INCOME $1 BLN
TransCanada Corporation (TSX, NYSE: TRP) (TransCanada or the Company) announced net income attributable to common shares for first quarter 2019 of $1.004 billion or $1.09 per share compared to net income of $734 million or $0.83 per share for the same period in 2018.
All Publications »
Tags: USA, CANADA, OIL, GAS, TRANSCANADA
Chronicle:
TC ENERGY SELLS U.S.: $1.275 BLN
2021, July, 9, 12:04:00
HYDROGEN RUSSIA AND CIS, Moscow, 20-21 October 2021
International Conference and Exhibition ‘Hydrogen Russia and CIS’ brings together more than 200 senior executives of hydrogen production plants from Russia and the CIS
TC ENERGY SELLS U.S.: $1.275 BLN
2021, July, 9, 12:00:00
ARGENTINA'S NUCLEAR SMR
Before work was suspended, it was in line to be the world’s first operating SMR. The government licensed it as a prototype in 2009.
TC ENERGY SELLS U.S.: $1.275 BLN
2021, July, 9, 11:55:00
CHILE'S COAL GENERATION DOWN
In June 2021, the Chamber of Deputies of Chile has approved a bill that prohibits the installation and operation of coal-fired power plants.
TC ENERGY SELLS U.S.: $1.275 BLN
2021, July, 8, 12:50:00
OIL PRICE: NEAR $73
Brent slipped by 23 cents, or 0.3%, to $73.20 a barrel, WTI were down 33 cents, or 0.5%, at $71.87 a barrel.
TC ENERGY SELLS U.S.: $1.275 BLN
2021, July, 8, 12:45:00
OIL PRICES 2021-22: $72-$67
We expect rising production will reduce the persistent global oil inventory draws that have occurred for much of the past year and keep prices similar to current levels, averaging $72/b during the second half of 2021 (2H21).
TC ENERGY SELLS U.S.: $1.275 BLN
2021, July, 8, 12:40:00
EUROPE CLIMATE RULES
According to draft proposals seen by market sources, the CBAM will replace the current system of free carbon allowances for metals sectors, and tighten allowances in the European Emissions Trading System generally, a bone of contention for some.
TC ENERGY SELLS U.S.: $1.275 BLN
2021, July, 8, 12:35:00
ASIA INDEXES DOWN ANEW
The Hang Seng index (.HSI) led losses with a 1.9% drop, its eighth consecutive session in the red, with more falls in internet giants Tencent (0700.HK), Meituan (3690.HK) and Alibaba (9988.HK) as the sector reels from sweeping Chinese regulatory scrutinty.
All Publications »