TC Energy stock: Coastal GasLink Phase 2 to proceed

TC Energy said Coastal GasLink Phase 2 will proceed following LNG Canada’s positive final investment decision. The company also announced a US$400 million pipeline sale in September.

TC Energy Corporation announced that Coastal GasLink Phase 2 will proceed following LNG Canada and its joint venture participants’ positive final investment decision on the LNG Canada expansion. The company said the project will nearly double the pipeline’s existing capacity through new compressor stations and facility upgrades along the existing 670-kilometer route in British Columbia. GlobeNewswire published the company’s September 29, 2026 release.

Coastal GasLink expansion

TC Energy said Coastal GasLink currently transports approximately 2.1 Bcf/d of natural gas. Construction of Phase 2 is expected to begin in early 2027, with the project anticipated to enter service in the early 2030s. LNG Canada will lead construction under the agreed integrated execution model, while Coastal GasLink will remain the owner, operator and permit holder. The company release said the project could employ up to 2,100 people during peak construction.

Mexico pipeline sale

In a separate September 21, 2026 announcement, TC Energy said it had agreed to sell Energía Occidente de México, which owns the Guadalajara-Manzanillo Pipeline, to affiliates of ESENTIA Energy Development for a gross purchase price of US$400 million. The transaction is expected to close in the first half of 2027, subject to customary conditions, regulatory approvals and consents. GlobeNewswire reported that the pipeline transports up to 500 MMcf/d of natural gas.