TC Energy increases long-term growth outlook

TC Energy Corp. (TC Energy or the company) and the CFE, Mexico’s state-owned electric utility, have agreed to forge a strategic alliance to accelerate the development of natural gas infrastructure in the central and southeast regions of Mexico. TC Energy and the CFE have agreed to consolidate previous TSAs executed between TC Energy’s Mexico-based subsidiary TGNH and the CFE in connection with their natural gas pipeline assets in central Mexico under a single, US dollar-denominated take-or-pay contract that extends through 2055. This new TSA will also govern related new infrastructure projects to be developed in conjunction with the CFE.

“We are pleased to have been selected by the CFE as its partner and to forge this strategic and important public-private partnership, a first-of-its-kind in the CFE’s 85-year history.” said François Poirier, President and CEO, TC Energy. “This alliance capitalises on each of our strengths. Together, TC Energy and the CFE will develop critical energy infrastructure to serve the growing central and southeast regions of Mexico. The Southeast Gateway Pipeline will be TC Energy’s second marine natural gas pipeline in Mexico, connecting to the coastal regions of Veracruz and Tabasco, and is another prime example of our ability to originate world-class projects that offer incremental growth to our long-term outlook.”

Read the article online at: https://www.worldpipelines.com/business-news/08082022/tc-energy-increases-long-term-growth-outlook/