TC Energy (NYSE:TRP) (TSX:TRP:CA) has entered into a binding letter agreement with Nisga’a Nation and Western LNG regarding the purchase and sale of all outstanding shares in Prince Rupert Gas Transmission and limited partnership interests in Prince Rupert Gas Transmission Limited Partnership (collectively, PRGT).
PRGT is a wholly owned subsidiary of TC Energy and the developer of a pipeline project in British Columbia and a potential delivery corridor that would further unlock Canada as a safe, affordable and sustainable source of LNG.
This transaction demonstrates TC Energy’s determination to deliver on its strategic priorities for 2024 while facilitating the development of critical energy infrastructure.
The transaction is expected to close in the second quarter of 2024.
The price of the shares earned 2% on Fridays during pre-market trading hours.