TC Energy sells remaining 15% 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 sale is expected to close in the fourth quarter, subject to regulatory approvals.

The Northern Courier Pipeline is 90 kilometres long and carries bitumen and diluent between the Fort Hills oilsands mine and Fort McMurray, Alta.

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