
Nothing (much) Changes: an analysis of changes in ownership of the Coastal Gas Link pipeline
TC Energy recently sold 65% of their 100% stake in their Coastal Gas Link Project.
But does it mean anything?
Is the project struggling? Is TC Energy? Is there a chance this project will just fall by the wayside? After reading too many industry news sites and pompous press releases, interviews and share reports I have bad news.
It’s unlikely this indicates anything significant – and it doesn’t seem to be a sign of a flailing project or company.
In short; corporations buy and sell investments in projects all the time – and TC Energy has been doing a lot of this. TCE also announced back in 2018 that they intended to reduce its shares in the project, and hired RBC to help do it in January 2019, so it’s not a new or recent development. Project messaging has stayed consistent, and since the project is still in early stages new buyers must have a lot of faith it will proceed as planned. Read More …