TC Energy Corp. has sold its 15% equity interest in the Northern Courier dual pipeline bitumen and diluent system to Astisiy LP, comprised of Suncor Energy, three First Nations, and five Métis communities in the Regional Municipality of Wood Buffalo (RMWB).
The 56-mile pipeline, which connects the Fort Hills mine to Suncor’s East Tank Farm terminal north of Fort McMurray, Alta., will be operated by Suncor upon completion of the purchase by Astisiy. The system includes two 300,000-bbl bitumen tanks and one 50,000-bbl diluent tank at Fort Hills, a 24-in OD bitumen line running south and a 12-in. OD diluent line running north. It entered service January 2018.
With the Indigenous collaboration in mind, Suncor in 2019 obtained the rights to purchase all of TC Energy’s 15% equity interest in 2019, as part of Northern Courier’s execution of long-term, non-recourse financing of $1 billion and TC Energy's sale of the 85% to the Alberta Investment Management Corp.
Indigenous communities joining Suncor in Astisiy are: Athabasca Chipewyan First Nation, Chipewyan Prairie First Nation, Conklin Métis Local 193, Fort Chipewyan Métis Local #125, Fort McKay Métis Nation, McMurray Métis, Fort McMurray #468 First Nation, and Willow Lake Métis Nation.
The $1.3-billion transaction is expected to close fourth-quarter 2021, subject to customary conditions and required regulatory approvals.
