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TC Energy Corp
Symbol TRP
Shares Issued 928,788,976
Close 2019-07-11 C$ 66.81
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Post says TC, Enbridge see Plains add pipeline capacity

2019-07-12 09:06 ET - In the News

Also In the News (C-ENB) Enbridge Inc

The Financial Post reports in its Friday edition that unexpected additions to Canada's existing pipelines could relieve the pain felt by the oil industry and reduce the total number of railway cars moving oil by late next year. The Post's Geoffrey Morgan writes that the Canadian subsidiary of Houston-based Plains All American Pipeline LP has announced that it was seeking contracts from oil companies to underpin an expansion to its existing Rangeland pipeline system by 80,000 barrels of oil per day. The expansion will be completed in stages, with the first stage finished by the end of this year and later expansions operational by 2021. Analysts said the 80,000 bpd expansion is not enough to relieve pressure on Canada's overstretched pipeline export system by itself, but it follows similarly unexpected additions from competing pipeline companies such as Enbridge and TC Energy which cumulatively could alleviate pressures on the system. "That will take away the immediate need for capacity, because that will at least take away the barrels that don't currently have a home because they can't get on transportation," said Dinara Millington, vice-president of research at the Canadian Energy Research Institute.

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