July 25, 2023
The move, announced Monday, is the culmination of an asset divestiture program that Calgary-based TC Energy announced last fall. The company stated at the time it would seek to sell off at least $5 billion in non-core assets by the end of 2023, in order to help finance its larger expansion goals without taking on large amounts of debt.
“To date, we have advanced our deleveraging goals by delivering on our $5+ billion asset divestiture program ahead of our year-end target.” TC Energy said it will remain the operator of the pipelines, and will jointly fund their annual maintenance, modernization and growth together with Global Infrastructure Partners.
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