Cost of Coastal GasLink pipeline soars to $14.5 billion

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The project is 83% complete and the company is targeting “mechanical completion” by the end of this year, TC Energy said.

“We are disappointed with the increase in the Coastal GasLink Project costs,” CEO Francois Poirier said in a statement. “We continue to be laser-focused on safely completing this critical piece of energy infrastructure at the lowest possible cost.”

Calgary-based TC Energy will take a impairment charge on its Coastal GasLink investment when it reports fourth-quarter results.Our in-depth journalism is possible thanks to the support of our subscribers. For just $3.50 per week, you can get unlimited, ad-lite access to The Vancouver Sun, The Province, National Post and 13 other Canadian news sites. Support us by subscribing today:

Source: News Formal (newsformal.com)

 

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