08:31:49 EDT Thu 02 May 2024
Enter Symbol
or Name
USA
CA



TC Energy Corp
Symbol TRP
Shares Issued 1,037,487,829
Close 2024-04-04 C$ 52.53
Market Cap C$ 54,499,235,657
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Globe/CP say TC Energy told drought may hit LNG project

2024-04-04 08:30 ET - In the News

The Globe and Mail reports in its Thursday edition that persistent drought conditions are poised to challenge natural gas producers as they await the opening of Canada's first liquefied natural gas export terminal. A Canadian Press dispatch to The Globe says that a report by Deloitte identifies potential water shortages in Western Canada as a key risk facing the oil and gas sector in 2024. Some of the most extreme drought conditions are in northeast British Columbia and northwest Alberta, the centre of Canada's natural gas drilling industry. The report notes that Alberta's government has already set up a drought advisory panel to begin water usage negotiations, while B.C. Premier David Eby has called his province's situation "the most dramatic drought conditions that we've seen." The drought comes as LNG Canada's completion date draws closer in Kitimat, B.C. The $40-billion LNG Canada project will ship via TC Energy's pipeline liquefied natural gas overseas and open up Asian markets to Canadian natural gas for the first time. Much of the $5-billion in capital spending is projected to take place in B.C. by oil and gas producers in 2024. Deloitte expects water-sharing agreements and extra costs around water management.

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