• Sign up for the Daily Digest E-mail
  • Facebook
  • Twitter
  • LinkedIn

BOE Report

Sign up
  • Home
  • Headlines
    • Latest Headlines
    • Columns
    • Discussions
  • Well Activity Map
  • Property Listings
  • Land Sales
  • M&A Activity
    • M&A Database
    • AER Transfers
  • Markets
  • Rig Counts
    • CAODC Rig Count
    • Baker Hughes Rig Count
    • USA Rig Count
  • Industry Data
    • Canada Well Licences
    • USA Market Data
    • Data Subscription
  • Jobs

Indigenous group to invest up to C$1 bln in TC Energy’s Keystone project

November 17, 20207:45 AM Reuters0 Comments

TC Energy said on Tuesday indigenous group Natural Law Energy will make an equity investment of up to C$1 billion ($763.77 million) in its controversial Keystone XL pipeline project.

The Keystone XL pipeline, which would run from the Canadian energy-producing province of Alberta to Nebraska, has been delayed for more than a decade due to opposition from landowners, environmental groups and tribes.

The first phase of the transaction with NLE, created as a coalition of First Nations in Saskatchewan and Alberta, is expected to close in the third quarter of 2021, and is contingent on NLE securing financing.

The agreement also contemplates NLE pursuing an interest in future oil projects.

TC Energy’s existing crude pipelines infrastructure connects Alberta oil supplies to U.S. refining markets, as well as U.S. crude oil supplies from the key market hub at Cushing, Oklahoma to the U.S. Gulf Coast. It also provides intra-Alberta crude transportation.

TC Energy expects Keystone XL to enter service in 2023. Construction is underway in Canada, and the pipeline operator was working on a revised 2020 U.S. work plan focusing on areas that have all permits and approvals.

U.S. president-elect Joe Biden has said he will scrap permits for Keystone XL oil pipeline.

TC Energy said it would also apply similar ownership model to additional indigenous communities along the Keystone XL corridor, both in Canada and the Unites States. 29dk2902l

Keystone XL TC Energy

Follow the BOE Report
  • Facebook
  • Twitter
  • LinkedIn
Sign up for the BOE Report Daily Digest E-mail
Latest Headlines
  • Canada’s weekly rig count drops 8 to 177
  • PSAC statement on Alberta Budget 2021
  • U.S. drillers add rigs for 7th month in a row, pace slows
  • Crude-by-rail exports are rebounding after a drastic drop in 2020 due to COVID and other factors
  • TC Energy and TC PipeLines, LP announce unitholder approval and effective date of merger

Return to Home
Alberta Gas
CAD/GJ
Market Data by TradingView





    Note: The page you are currently on will be sent with your report. If this report is about a different page, please specify.

    About
    • About BOEReport.com
    • In the News
    • Terms of Use
    • Privacy Policy
    Resources
    • App
    • Widgets
    • Notifications
    • Daily Digest E-mail
    Get In Touch
    • Advertise
    • Post a Job
    • Contribute
    • Contact
    • Report Error
    Featured In
    • CamTrader
    • Rigger Talk
    Data Partner
    • Foxterra
    BOE Network
    © 2021 Grobes Media Inc.