TC Energy sells remaining 15 per cent stake in Northern Courier Pipeline

CALGARY – TC Energy Corp. says it has signed a deal to sell its remaining 15 per cent stake in the Northern Courier Pipeline to a partnership including Suncor Energy Inc. and eight Indigenous communities.

Financial terms of the agreement were not immediately available.

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

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

The Northern Courier Pipeline is 90 kilometres and carries bitumen and diluent between the Fort Hills oilsands mine and Suncor’s terminal north of Fort McMurray, Alta.

TC Energy sold an 85 per cent stake in the pipeline to Alberta Investment Management Corp. in 2019.

This report by The Canadian Press was first published Sept. 16, 2021.

Companies in this story: (TSX:TRP, TSX:SU)