TC Energy Enters Agreement To Sell Prince Rupert Gas Transmission Entities To Nisga'a Nation And Western LNG; No Terms Disclosed
Portfolio Pulse from Benzinga Newsdesk
TC Energy has agreed to sell its Prince Rupert Gas Transmission (PRGT) entities to Nisga'a Nation and Western LNG. The initial proceeds from the sale are not expected to be material to TC Energy, but it could receive additional payments contingent on the project's final investment decision and commercial operation.
March 14, 2024 | 9:03 pm
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TC Energy's sale of PRGT to Nisga'a Nation and Western LNG is not expected to have a material impact initially, but future contingent payments could benefit the company.
The sale of PRGT by TC Energy to Nisga'a Nation and Western LNG is structured in a way that the initial financial impact on TC Energy is minimal. However, the deal includes provisions for additional payments contingent on the project reaching certain milestones, such as the final investment decision and commercial operation. This structure introduces potential future benefits for TC Energy, but the uncertainty around these milestones means the short-term impact on the stock is neutral.
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