Canada’s TC Energy to sell pipeline stake to some indigenous communities – CTV News
July 30, 2024
TC Energy said on Tuesday that it will sell a minority stake in its Nova Gas transmission system and the Foothills pipeline assets for C$1 billion ($722.1 million) to certain indigenous Canadian communities as part of a plan to reduce its debt and fund investments.
The company, best known for its Keystone oil pipeline, is undergoing an overhaul. Last year, it said it would spin off its liquids business to focus on transporting natural gas.
The stake sale is backed by the Alberta Indigenous Opportunities Corporation (AIOC) and was negotiated by a consortium committee representing specific indigenous communities across Alberta, British Columbia and Saskatchewan.
