Energy
TC Energy Nears Sale of Gas Pipeline Stake to Indigenous Groups
- Pipeline operator to gain partners in Western Canada network
- Government loan guarantee of C$1 billion will facilitate deal
Pipes stacked in a yard near Oyen, Alberta, Canada.
Photographer: Jason Franson/BloombergThis article is for subscribers only.
TC Energy Corp. is nearing a deal to sell a stake in a natural gas pipeline system to indigenous communities in Western Canada, with help from Alberta’s government.
A provincial government agency has given “contingent approval” on a C$1 billion ($726 million) loan guarantee to allow the indigenous consortium to finance the deal, according to a letter from TC Energy seen by Bloomberg News. Dozens of indigenous communities in Alberta, British Columbia and Saskatchewan — Canada’s three westernmost provinces — are part of the buying group.