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TransCanada calls on RBC to sell majority in Coastal GasLink

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450 - 1 Street SW
Calgary, AB
CA, T2P 5H1

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Up to 75 percent of the under-construction Coastal GasLink pipeline could be sold by TransCanada after the company engaged RBC Capital Markets to manage the transaction recently.

A National Energy Board filing dated January 25 notes that TransCanada intends to follow up on a November announcement in which the company expressed its intention to sell the majority of its interest in the $6.2 billion project to "one or more arm's length parties" while holding a minority equity interest. 

The 48-inch diameter pipeline, planned to cover 670 kilometres from northeastern British Columbia to the LNG Canada project on the coast at Kitimat, has started work, but faced challenges due to First Nations protests along the route. The company has agreements with elected councils along the route, but hereditary chiefs have expressed concern and stopped work near Houston during January, 2019.

At present, Coastal GasLink is expected to enter service in 2023.

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