TC Energy signs deal with CFE for $4.5 billion gas pipeline

TC Energy Corp reported this Thursday that it reached an agreement with the Federal Electricity Commission (CFE) to develop a $4.5 billion gas pipeline.

The Southeast Gateway Pipeline will supply natural gas to the central and southeastern regions of Mexico, the Canadian gas pipeline operator added.

The agreement with the CFE comes at a time when Canada and the United States maintain their most serious commercial confrontation with Mexico within the framework of the new North American agreement, T-MEC.

TC Energy indicated that pipeline approval would expand its guaranteed capital program to $33 billion and could increase its adjusted EBITDA growth prospects for 2021-2026.

Last month, TC Energy had said that would build a $5 billion gas pipeline with the CFE in Veracruz. (rts)

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