The North American pipeline operator TC Energy has agreed to sell its Prince Rupert gas pipeline project to the co-developers of the Ksi Lisims LNG project, a proposed Canadian export terminal. The terms of the deal have not been disclosed; however, it is expected to close in the second quarter of 2024.
The Prince Rupert natural gas pipeline project is permitted to move up to 102 mcm/day natural gas across northern British Columbia (B.C.) to the Pacific Coast near Prince Rupert, supplying Ksi Lisims' proposed floating production and storage facilities. The pipeline would run about 750-760 km onshore and 30-50 km offshore. Ksi Lisims aims to be Canada's second-largest liquefied natural gas export terminal, with a capacity of 12 Mt/year, of which 2 Mt/year will be sold to Shell. The terminal, which is scheduled to start commercial operations in mid-2025, is being developed by Nisga'a Nation, Western LNG and the Rockies LNG. The Rockies LNG is not involved in the pipeline purchase.
TC is selling assets, including the Portland Natural Gas Transmission System recently, to reduce debt.