TC Energy advances Coastal GasLink after LNG Canada decision

Sept 29 (Reuters) - TC Energy TRP.TO said on Tuesday its Coastal GasLink Phase 2 project will proceed after LNG Canada and its joint venture partners made a positive final investment decision on the LNG Canada expansion project.

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• The company said Coastal GasLink (CGL) Phase 2 will nearly double the pipeline's capacity through the addition of new compressor stations and upgrades along its existing 670-km route linking Dawson Creek and the LNG Canada export facility in Kitimat, British Columbia.

• Tight global markets, outages among major producers and strong long-term demand ​growth from countries seeking to replace coal with cleaner-burning natural gas are driving interest in new LNG ​projects and more diversified sources of supply.

• Earlier on Tuesday, LNG Canada partners led by Shell SHEL.L approved a multi-billion-dollar Phase 2 expansion of the Kitimat facility that will double its production capacity to 28 million metric tonnes a year from 14 million metric tonnes per annum (mtpa), strengthening Canada's position in the global LNG export market.

• LNG Canada, Canada's first large-scale LNG export terminal, is a joint venture between Shell, Petronas, PetroChina, Mitsubishi Corp 8058.T and Korea Gas Corp 036460.KS, and ranks among the country's largest private-sector investments.

• TC Energy operates a 58,100-mile network of pipelines, supplying more than 30% of the clean-burning natural gas consumed daily across North America