TC Energy Corp (TSX:TRP)
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Tuesday September 27 2022 - In the News
The Globe and Mail reports in its Tuesday edition that Canada's West Coast is positioned to become a reliable supplier of liquefied natural gas, but the East Coast faces pipeline constraints, says TC Energy's chief executive officer. The Globe's Brent Jang writes that with Europe experiencing an energy crisis after Russia invaded Ukraine in February, Fran\xE7ois Poirier said he is optimistic West Coast exports to Asia will play an important role by injecting much-needed LNG supply into the global market. TC Energy is constructing the $11.2-billion Coastal GasLink pipeline, to Kitimat, B.C., with phase one exporting in 2025. A second phase being contemplated by LNG Canada, a consortium led by Shell PLC, would double the export capacity. Mr. Poirier cautioned that transporting natural gas from Alberta to the East Coast would be difficult financially and logistically, compared with shorter distances for pipelines within B.C. or from Alberta to the West Coast. "The Western Canadian basin being quite far away from the East Coast can make the economics challenging," he said. "But there are other potential benefits -- diversity of supply, security of supply -- that can make East Coast LNG viable, and we have to assess them."