TC Energy Sells 40% Interest in Columbia Pipeline to Investor GIP
TransCanada Corporation, which renamed itself TC Energy in 2019, bought out/merged in U.S.-based Columbia Pipeline Group (now Columbia Gas Transmission) in 2016 (see TransCanada and Columbia Pipeline Tie the Knot Today). TransCanada paid $13 billion for Columbia, including the assumption of $2.8 billion of debt. Yesterday TC Energy announced it is selling a 40% stake in Columbia for US$3.9 billion (C$5.2 billion) to investment firm Global Infrastructure Partners (GIP). TC will retain majority ownership and operate the Columbia assets, which include 11,899 miles of pipeline extending from New York state to the Midwest and Southeast, along with dozens of storage fields in multiple states.
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TransCanada Corporation, which renamed itself TC Energy in 2019, made a play for and bought out/merged in U.S.-based Columbia Pipeline Group in 2016 (see 
Last December, Columbia Gas Transmission pre-filed with the Federal Energy Regulatory Commission (FERC) to build the Virginia Reliability Project that will add 100 MMcf/d of incremental capacity on Columbia’s system to serve delivery points in southeast Virginia, namely Virginia Natural Gas (see 
In October 2020, the Federal Energy Regulatory Commission (FERC) finally, after months of dithering, approved TC Energy to begin construction on its Louisiana XPress project to beef up flows along the existing Columbia pipeline system by an additional 850 million cubic feet per day (MMcf/d) by adding three new compressor stations and expanding a fourth compressor in Louisiana (see 
Columbia Gas, a subsidiary of Canada-based TC Energy (formerly TransCanada), wants to build a tiny 3.37-mile, 8-inch pipeline under the Potomac River from Maryland to West Virginia. The Eastern Panhandle Expansion, as it is called, is being blocked by the lefties in Maryland (see 
In July 2020 Dominion Energy announced it was canceling the Atlantic Coast Pipeline (ACP)–a 600-mile Marcellus/Utica pipeline project from West Virginia through Virginia and into North Carolina (see 
Yesterday MDN brought you the news that the U.S. Supreme Court decided that yes, the PennEast Pipeline *can* use federally-delegated eminent domain in order to install a pipeline across New Jersey state-owned land after all (see 
The Federal Energy Regulatory Commission (FERC), now firmly under the jackboots of Chairman Richard “Dick” Glick, has just struck a major blow to five natural gas pipeline projects, four of them either located in the Marcellus/Utica or located elsewhere but will flow significant amounts of our gas. Just coming to light now is the fact that last Thursday functionaries inside the bowels of FERC issued notices to five pipeline projects that FERC has hit the pause button on finishing up final approvals so the agency can take the next six months to complete full environmental impact statements (EIS’s), gauging whether or not these projects will cause too much mythical, man-made global warming. We’d be really angry about this except our anger quotient is already exhausted with this bunch of leftist nuts.
Here’s a connection we hadn’t made until we read about yesterday’s oral arguments before the U.S. Supreme Court in PennEast Pipeline vs. New Jersey. The connection is this: The PennEast case also has huge ramifications for another currently-stalled M-U pipeline. Columbia Gas wants to build a tiny 3.37-mile, 8-inch pipeline under the Potomac River from Maryland to West Virginia. It is being blocked from doing so by the lefties in Maryland (see 
Here’s another “XPress” pipeline to add to Columbia’s (TC Energy’s) long list of other XPress pipelines: East Lateral XPress. Columbia has built a number of XPress pipelines, including Gulf XPress, Mountaineer XPress, WB Xpress, Leach XPress, Rayne XPress, Buckeye XPress, and Louisiana XPress, all of which work together to flow (in part) Marcellus/Utica natural gas to points south, including to the Gulf Coast (
Here’s a new one for us: The Leach XPress pipeline project has a teeny tiny presence in the southwestern corner of Pennsylvania. We did not know that! Just 1.74 miles of the pipeline runs through PA, but that small section has earned the builder, Columbia Gas, a big fine.