TC Energy Corp. (TRP) says it plans to sell $5 billion of assets in 2023 to help pay down debt
and fund new projects.
The Calgary-based pipeline operator made the announcement as it reported positive third
quarter financial results.
TC Energy reported that it earned net income of $841 million or $0.84 per share for the quarter
ended September 30, up 8% from $779 million or $0.80 a share a year earlier. Revenue in the
quarter totalled $3.80 billion, up from $3.24 billion in Q3 2021.
During the quarter, TC Energy resolved a long-standing dispute with LNG Canada over
projected cost overruns for the Coastal GasLink pipeline project that’s being built in Kitimat, B.C.
The new total cost estimate for Coastal GasLink is $11.2 billion, up from $6.6 billion previously.
TC Energy’s stock is up 3% this year and trading at $61.66 per share.
