TransCanada to sell up to 75% stake in Coastal GasLink pipeline

Company reducing its interest in the 670-kilometre, 48-inch diameter natural gas pipeline project

TransCanada Corp. says it has hired RBC to help it sell as much as a 75 per cent stake in the Coastal GasLink pipeline project designed to supply natural gas from northeastern B.C. to the LNG Canada facility on the West Coast at Kitimat.

The Calgary-based company says it is following through with its intention announced in November to eventually reduce its interest in the 670-kilometre, 48-inch diameter natural gas pipeline project to between 25 and 49 per cent.

The RBC news is contained in a 16-page response by TransCanada to a challenge now being heard by the National Energy Board over the jurisdiction of the B.C. provincial regulator of the pipeline.

READ MORE: Unist’ot’en demand work stoppage of Coastal GasLink pipeline project

B.C. resident Mike Sawyer argues that because TransCanada will operate the pipeline and the connected Nova Gas Transmission Ltd. system together, they form a single pipeline that crosses the Alberta-B.C. boundary and therefore must be regulated by the federal government.

TransCanada’s response is that the purpose of Coastal GasLink is to move natural gas entirely within the province and therefore provincial approvals are appropriate.

The pipeline has support agreements with 20 elected Indigenous communities along its route but has been strongly opposed by hereditary clan chiefs who say they did not give permission for it to be built.

If the project’s British Columbia Oil and Gas Commission approval is found to be inadequate, the proponent will have to make a formal NEB application and undergo another separate process to win federal approval.

The Canadian Press

Like us on Facebook and follow us on Twitter.

Just Posted

Repen: FOI data proves Telkwans being ripped off by ICBC

Former Telkwa mayor received a response from ICBC and says the results don’t look good for residents

Fires still burning near Telegraph Creek

BC Wildfire Service assures residents of a proactive plan heading into wildfire season

Northwest entrepreneurs pitch their plans for cash prizes

ThriveNorth announces 12 finalists in this year’s business challenge

Gas prices spike in northern B.C. ahead of the long weekend

Fuel went up 17 cents overnight in Prince Rupert

Cyclist braking stigma on addiction from coast to coast

Mathew Fee aims at world record for longest distance on BMX bike while sharing his story of recovery

Dashcam captures close call between minivan, taxi at busy Vancouver intersection

To make the footage more nerve-wracking, a pedestrian can be seen standing at the corner

QUIZ: How much do you know about Easter?

Take this short quiz and put your knowledge to the test

B.C. VIEWS: NDP’s lawyer show is turning into a horror movie

Court actions pile up over pipelines, car insurance, care aides

Global Affairs warns Canadians in Sri Lanka there could be more attacks

A series of bomb blasts killed at least 207 people and injured hundreds more

Waste not: Kootenay brewery leftovers feed the local food chain

Spent grains from the Trail Beer Refinery are donated to local farmers and growers, none go to waste

Deck collapses in Langley during celebration, 35 people injured

Emergency responders rushed to the Langley home

B.C. mom wages battle to get back four kids taken from her in Egypt

Sara Lessing of Mission has help from Abbotsford law firm

VIDEO: Fire guts Peachland home

Crews are still on scene pumping water onto the blaze in the Okanagan neighbourhood

$6K raised in one day’s time for family of woman gunned down in Penticton

GoFundMe launched for family of Darlene Knippelberg, to pay for funeral costs and other expenses

Most Read