Transactions - SEPTEMBER 17, 2021

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Suncor and eight indigenous communities to acquire pipeline stake from TC Energy

by Kali Persall

Suncor has partnered with eight indigenous communities to acquire TC Energy’s 15 percent equity interest in the Northern Courier Pipeline.

The Northern Courier Pipeline and associated storage facilities are located in the Regional Municipality of Wood Buffalo (RMWB). The asset consists of two 90-kilometer (56-mile) pipelines that transport heated or diluted bitumen and condensate, diesel or crude from Fort Hills to Suncor’s East Tank Farm asset.

The partnership includes three First Nations and five Métis communities which, alongside Suncor, will take the minority stake in this pipeline asset, with a value of approximately $1.3 billion. Following the transaction, Suncor will operate the pipeline.

The deal is expected to close in fourth quarter 2021.

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