TC Energy Approves $500 Million in Pipeline Expansion Projects
TC Energy approved approximately $500 million in new natural gas pipeline expansion projects across the U.S. and Canada, including two Columbia system expansions and an NGTL System project.
(P&GJ) — TC Energy has approved approximately CAD$700 million (US$498.36 million) in new natural gas pipeline expansion projects in the United States and Canada, advancing three low-risk projects designed to increase capacity for power generation, industrial demand and LNG-related market growth.
The projects include the Central Virginia Capacity project on the Columbia Gas system, the Clark project on the Columbia Gulf system and an expansion of the NGTL System in Western Canada. Together, the investments are part of roughly $3 billion in growth projects the company has sanctioned so far this year.
The Central Virginia Capacity project will add up to 0.4 Bcf/d of transportation capacity to support new natural gas-fired power generation tied to growing data center demand. The project carries an estimated cost of approximately US$300 million and is expected to enter service in 2028 and 2030.
TC Energy also approved the Clark project on its Columbia Gulf system, a US$100 million expansion designed to provide up to 0.3 Bcf/d of firm transportation service to an existing natural gas-fired power plant. The project is expected to enter service in 2028.
In Canada, the company approved additional facilities under its NGTL System Multi-Year Growth Plan to increase natural gas transportation capacity. The expansion, estimated at approximately $100 million, is also targeted for service in 2028.
The project approvals accompanied TC Energy's second-quarter earnings report, in which the company raised its 2026 comparable EBITDA outlook to the upper end of its previously announced range of $11.6 billion to $11.8 billion, citing strong operating performance and continued demand for natural gas infrastructure.
President and CEO François Poirier said the projects reflect growing demand across the company's North American natural gas network.
"Over the past six months, we have sanctioned approximately $3 billion of new growth projects across our North American natural gas portfolio, including the announcement today of three natural gas pipeline projects," Poirier said. "Together, these investments reflect our disciplined approach to advancing capital-efficient, low-risk growth opportunities that create long-term value for shareholders."
TC Energy said the two U.S. projects are supported by 20-year take-or-pay contracts and are expected to achieve a weighted average build multiple of approximately 5.8 times, while the NGTL expansion supports increasing customer demand under the company's Multi-Year Growth Plan.