TC Energy announces $1.2 Billion West Path Delivery Program
November 01 2019 - 6:32AM
News Release – TC Energy Corporation (TSX:TRP) (NYSE:TRP) (TC
Energy) today announced the West Path Delivery Program, a combined
$1.2 billion expansion of its NOVA Gas Transmission Ltd. (NGTL) and
Foothills Systems, which will connect with the US$335 million GTN
XPress Project recently announced by TC PipeLines LP, to deliver
the volumes to downstream markets.
“The West Path Delivery Program, along with the GTN XPress
Project, further enhances connections of the Western Canadian
Sedimentary Basin (WCSB) to high-value downstream markets,” said
Russ Girling, President and Chief Executive Officer. “This $1.2
billion program brings our sanctioned expansions of NGTL and
Foothills infrastructure to $10 billion, demonstrating our strong
commitment to the long-term viability of the WCSB.” The West
Path Delivery Program is underpinned by approximately 258 million
cubic feet per day of new firm service contracts with terms that
exceed 30 years, commencing between the fourth quarter of 2022 and
the fourth quarter of 2023. The $1.2 billion to be invested
includes approximately 119 km (74 miles) of pipeline and associated
facilities.
Applications for approvals to construct and operate the
facilities are expected to be filed in 2020 and, pending receipt of
regulatory approvals, construction is expected to commence as early
as fourth quarter 2021.
TC Energy and its affiliates deliver the energy millions of
people rely on every day to power their lives and fuel industry. We
are not only focused on what we do, but how we do it – guided by
core values of safety, responsibility, collaboration and integrity,
our more than 7,000 people are committed to sustainably developing
and operating pipeline, power generation and energy storage
facilities across Canada, the United States and Mexico. TC Energy’s
common shares trade on the Toronto (TSX) and New York (NYSE) stock
exchanges under the symbol TRP. Visit TCEnergy.com and connect with
us on social media to learn more.
FORWARD-LOOKING INFORMATION
This publication contains certain information that is
forward-looking and is subject to important risks and uncertainties
(such statements are usually accompanied by words such as
"anticipate", "expect", "believe", "may", "will", "should",
"estimate", "intend" or other similar words). Forward-looking
statements in this document are intended to provide TC Energy
security holders and potential investors with information regarding
TC Energy and its subsidiaries, including management's assessment
of TC Energy's and its subsidiaries' future plans and financial
outlook. All forward-looking statements reflect TC Energy's beliefs
and assumptions based on information available at the time the
statements were made and as such are not guarantees of future
performance. Readers are cautioned not to place undue reliance on
this forward-looking information, which is given as of the date it
is expressed in this news release, and not to use future-oriented
information or financial outlooks for anything other than their
intended purpose. TC Energy undertakes no obligation to update or
revise any forward-looking information except as required by law.
For additional information on the assumptions made, and the risks
and uncertainties which could cause actual results to differ from
the anticipated results, refer to the Quarterly Report to
Shareholders dated October 31, 2019 and 2018 Annual Report filed
under TC Energy's profile on SEDAR at www.sedar.com and with the
U.S. Securities and Exchange Commission at www.sec.gov.
Media Enquiries:Matthew John403.920.7859 or
800.608.7859
Investor & Analyst Enquiries:David Moneta /
Duane Alexander403.920.7911 or 800.361.6522
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