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TC Energy Corp
Symbol C : TRP
Shares Issued 928,788,976
Close 2019-07-17 C$ 65.56
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Globe says TC Energy hears Chevron tout gas reserves

2019-07-18 08:54 ET - In the News

The Globe and Mail reports in its Thursday edition that a joint venture led by Chevron is proposing to rely on two energy plays in British Columbia and Alberta to help supply an export terminal for liquefied natural gas on the West Coast. The Globe's Brent Jang writes that Chevron is the operator of the Kitimat LNG venture located at Bish Cove near the community of Kitimat, B.C., co-owning the project with Australia's Woodside Petroleum Ltd. The Liard basin in northeastern B.C. and the Kaybob Duvernay play in central Alberta are rich in natural gas reserves, Chevron said in a filing this week to the National Energy Board (NEB). The Chevron submitted a nine-page document to support its recent NEB application to increase Kitimat LNG's export licence to 40 years from the previously approved 20 years. In 2011, Kitimat LNG became the first B.C. LNG project to receive an export licence from the NEB. Chevron became a co-owner of the project in 2013 and Woodside joined in April, 2015, but the two companies suspended most construction work by late 2015 at the terminal site at Bish Cove after prices in Asia for LNG plunged. In April this year, Kitimat LNG requested that the 20-year export licence be extended to 40 years.

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