TC Energy to Sell 40% in Columbia Gas Transmission Systems

July 25, 2023--Researched by Industrial Info Resources (Sugar Land, Texas)--TC Energy Corporation (NYSE:TRP) (Calgary, Alberta) announced that it will sell a 40% stake in its Columbia Gas Transmission and Columbia Gulf Transmission natural gas pipeline systems in the U.S. for C$5.2 billion (US$3.95 billion) to infrastructure fund manager Global Infrastructure Partners (GIP) (New York, New York). The pipelines collectively span about 15,000 miles. Under the deal, TC Energy and GIP will jointly invest in maintenance and modernization projects on the systems, with GIP funding 40% of the capital expenditures.