TC Energy announces Wisconsin Access Project on ANR Pipeline system
October 29 2020 - 7:00AM
News Release – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy)
announced today that it will move forward with its Wisconsin Access
Project to increase natural gas capacity, improve reliability, and
reduce emissions on a highly utilized segment of its ANR Pipeline
system.
The US$0.2 billion project will provide approximately 72 million
cubic feet per day of firm transportation service under long-term
contracts to utilities serving the Midwestern United States. All
project work will occur on ANR Pipeline’s existing facilities in
Wisconsin, Illinois, Iowa, Missouri, and Kansas.
“This project demonstrates the value of our existing
infrastructure as a platform for organic growth. As utility
companies’ demand for natural gas grows to provide power and
heating to homes, we are finding new ways to meet the demand on our
systems while lowering emissions,” said Russ Girling, TC Energy
President and Chief Executive Officer. “Consumers benefit from
lower energy costs and reliable service that abundant natural gas
provides, and we aim to responsibly deliver that assurance with
projects that utilize modern compression equipment and emerging
technologies in our operations.”
The announcement of the Wisconsin Access Project follows TC
Energy’s July sanctioning of the US$0.4 billion Elwood Power/ANR
Horsepower Replacement Project that will reduce emissions, increase
reliability, and support new service for power generation on the
ANR Pipeline.
The Wisconsin Access Project involves meter station upgrades,
compressor station modifications for enhanced operational
flexibility and emissions-cutting horsepower replacements.
The project is targeted to be brought in service in the second
half of 2022.
About TC EnergyWe are a vital part of everyday
life - delivering the energy millions of people rely on to power
their lives in a sustainable way. Thanks to a safe, reliable
network of natural gas and crude oil pipelines, along with power
generation and storage facilities, wherever life happens — we’re
there. Guided by our core values of safety, responsibility,
collaboration and integrity, our more than 7,500 people make a
positive difference in the communities where we operate across
Canada, the U.S. and Mexico.
TC Energy’s common shares trade on the Toronto (TSX) and New
York (NYSE) stock exchanges under the symbol TRP. To learn more,
visit us at TCEnergy.com.
FORWARD-LOOKING INFORMATIONThis release
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. As actual results could vary significantly
from the forward-looking information, you should not put undue
reliance on forward-looking information and should not use
future-oriented information or financial outlooks for anything
other than their intended purpose. We do not update our
forward-looking information due to new information or future
events, unless we are required to 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 most recent Quarterly Report to
Shareholders and 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 .
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Media
Inquiries:Carol
Wirth / Matt Zborowski403-920-7859 or 800-608-7859
Investor & Analyst
Inquiries:David Moneta / Hunter
Mau403-920-7911 or 800-361-6522
PDF
available: http://ml.globenewswire.com/Resource/Download/74215dc5-e8eb-431f-99d2-555f8b84acf5
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