TC PipeLines, LP (NYSE:TCP) Files An 8-K Entry into a Material Definitive AgreementItem 1.01 Entry into a Material Definitive Agreement.
TC PipeLines, LP (NYSE:TCP) Files An 8-K Entry into a Material Definitive Agreement
On April 24, 2017, Great Lakes Gas Transmission Limited Partnership (“Great Lakes”) entered into a term sheet with TransCanada PipeLines Limited (“TCPL”) for a long-term transportation capacity contract to which Great Lakes will provide transportation services to TCPL on its natural gas pipeline. TC PipeLines, LP (the “Partnership”) owns a 46.45 general partner interest in Great Lakes and is an affiliate of TCPL. The term sheet provides for a contract term of 10 years and a total contract value of up to $758 million. The contract may commence as soon as November 1, 2017 and contains volume reduction and termination options beginning the end of year three of the contract. The contract is subject to the satisfaction of certain conditions, including but not limited to approval by the Canadian National Energy Board of an associated contract between TCPL and third party customers.
The foregoing is only a brief description of certain of the terms of the term sheet and does not purport to be complete and is qualified in its entirety by reference to the term sheet that will be filed as an exhibit to the Partnership’s quarterly report on Form 10-Q for the quarter ended March 31, 2017.
About TC PipeLines, LP (NYSE:TCP)
TC PipeLines, LP is a limited partnership company that acquires, owns and participates in the management of energy infrastructure businesses in North America. The Company’s pipeline systems transport natural gas in the United States. The Company has approximately four pipelines and equity ownership interests in over three natural gas interstate pipeline systems that are collectively designed to transport natural gas from producing regions and import facilities to market hubs, and consuming markets primarily in the Western, Midwestern and Eastern United States. All of its pipeline systems are operated by subsidiaries of TransCanada. Its pipeline systems include Gas Transmission Northwest LLC (GTN), Northern Border Pipeline Company (Northern Border), Bison Pipeline LLC (Bison), Great Lakes Gas Transmission Limited Partnership (Great Lakes), North Baja Pipeline, LLC (North Baja), Tuscarora Gas Transmission Company (Tuscarora) and Portland Natural Gas Transmission System (PNGTS). TC PipeLines, LP (NYSE:TCP) Recent Trading Information
TC PipeLines, LP (NYSE:TCP) closed its last trading session down -0.17 at 60.53 with 440,789 shares trading hands.
TC PipeLines, LP is a limited partnership company that acquires, owns and participates in the management of energy infrastructure businesses in North America. The Company’s pipeline systems transport natural gas in the United States. The Company has approximately four pipelines and equity ownership interests in over three natural gas interstate pipeline systems that are collectively designed to transport natural gas from producing regions and import facilities to market hubs, and consuming markets primarily in the Western, Midwestern and Eastern United States. All of its pipeline systems are operated by subsidiaries of TransCanada. Its pipeline systems include Gas Transmission Northwest LLC (GTN), Northern Border Pipeline Company (Northern Border), Bison Pipeline LLC (Bison), Great Lakes Gas Transmission Limited Partnership (Great Lakes), North Baja Pipeline, LLC (North Baja), Tuscarora Gas Transmission Company (Tuscarora) and Portland Natural Gas Transmission System (PNGTS). TC PipeLines, LP (NYSE:TCP) Recent Trading Information
TC PipeLines, LP (NYSE:TCP) closed its last trading session down -0.17 at 60.53 with 440,789 shares trading hands.
