TC Energy Sells Its Remaining Stake In The Northern Courier Pipeline

TC Energy has signed a deal to sell its remaining 15% stake in the Northern Courier Pipeline to a partnership that includes Suncor Energy and eight Indigenous communities.

Financial terms of the agreement were not disclosed.

The Astisiy Limited Partnership includes the Athabasca Chipewyan First Nation, Chipewyan Prairie First Nation, Conklin Metis Local .193, Fort Chipewyan Metis Local .125, Fort McKay Metis Nation, McMurray Metis, Fort McMurray .468 First Nation, Willow Lake Metis Nation and Suncor.

The sale is expected to close in the fourth quarter, subject to numerous closing conditions and regulatory approvals.

The Northern Courier Pipeline is 90 kilometres long and carries bitumen and diluent between the Fort Hills oilsands mine and Suncor's terminal north of Fort McMurray, Alberta. TC Energy previously sold an 85% stake in the pipeline to the Alberta Investment Management Corp. in 2019.