Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

TC Energy Receives Approval for 2021 NGTL Expansion Project

By Zacks Investment ResearchStock MarketsOct 25, 2020 10:31PM ET
www.investing.com/analysis/tc-energy-receives-approval-for-2021-ngtl-expansion-project-200542388
TC Energy Receives Approval for 2021 NGTL Expansion Project
By Zacks Investment Research   |  Oct 25, 2020 10:31PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

TC Energy (NYSE:TRP) Corporation TRP has been granted approval for the 2021 NOVA Gas Transmission Ltd. (“NGTL”) System Expansion Project by the federal government of Canada. Per Seamus O’Regan, Natural Resources Minister, the $2.3-billion expansion project was approved on the basis of facts and science for the betterment of the local population and wildlife protection.

TC Energy expects the project’s approval to enable it to immediately proceed with the manufacturing activities, following the completion of regulatory activities. The compressor station field activities are expected to commence in December 2020, with the pipeline-construction activities planned to start next January. The approved expansion will extend the existing 24,568-kilometer system by 344 kilometers.

The new pipeline will stretch from the western parts of Red Deer to Grande Prairie, Alta, delivering natural gas produced in the Western Canadian Sedimentary Basin to markets in Canada and the United States.

The project is estimated to generate up to 5,500 well-paid construction jobs for indigenous and non-indigenous workers, and would contribute $1.2 billion to Alberta’s economy. This, in turn, will bring economic advancement for local communities, and address environmental risks and endangered species.

NGTL will aid Canada’s plan to rapidly phase-out traditional coal-fired electricity by 2030 to improve emission-free growth and accelerate environmental-protection. O’Regan mentioned that the federal government’s conditions for the expansion include certain measures, namely the restoration of 3,840 hectares of caribou habitat. Under the condition, a local working group will be established to assist in the restoration process.

TC Energy is a premier natural gas-focused midstream energy infrastructure provider in Canada, the United States, and Mexico. The firm recently offered to acquire all outstanding units of its pipeline partnership TC Pipelines (NYSE:TCP) TCP that it does not completely own. It is part of the ongoing simplification of corporate structures in the MLP space along the lines of Enbridge (NYSE:ENB) INC. ENB and Kinder Morgan (NYSE:KMI) KMI. The transaction is aimed at better corporate governance and lower cost of capital in a softer market.

More Stock News: This Is Bigger than the iPhone!

It could become the mother of all technological revolutions. Apple (NASDAQ:AAPL) sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.

Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.

Click here for the 6 trades >>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Enbridge Inc (ENB): Free Stock Analysis Report

Kinder Morgan, Inc. (KMI): Free Stock Analysis Report

TC Energy Corporation (TRP): Free Stock Analysis Report

TC PipeLines, LP (TCP): Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research
TC Energy Receives Approval for 2021 NGTL Expansion Project
 

Related Articles

Michele Schneider
Is Stagflation Creeping up? By Michele Schneider - Jun 20, 2021 1

After Wednesday’s Fed announcement, the stock market has been sitting in an uneasy state. The U.S dollar—Invesco DB US Dollar Index Bullish Fund (NYSE:UUP) not only firmed, but...

TC Energy Receives Approval for 2021 NGTL Expansion Project

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email