Media statement - March 25, 2026

Coastal GasLink Phase 2 advances step forward with new commercial agreements 

Today, TC Energy shared that Coastal GasLink (CGL) has entered into commercial agreements with LNG Canada. This marks an important milestone in advancing Coastal GasLink Phase 2, which remains subject to Final Investment Decision (FID) by LNG Canada (and its joint-venture participants) and approvals by CGL. The agreements establish a comprehensive commercial framework that supports LNG Canada’s pathway to FID, including front end engineering and design and the execution activities that would follow, while maintaining disciplined capital, risk and governance principles.

The parties will now further advance definitive cost and schedule estimates for CGL Phase 2. Should it proceed, CGL Phase 2 facilities will be constructed under a new execution model involving both LNG Canada and CGL. Under the agreements, LNG Canada will lead project construction as CGL Phase 2 execution manager and CGL will provide LNG Canada technical advisory services. The commercial structure includes limits on CGL’s capital commitments and overall liability for construction cost and schedule risks. This is consistent with TC Energy's strategic objectives to reduce project execution and capital allocation risk.

“Doubling the transmission of natural gas through the existing pipeline will help further strengthen Canada’s role as a reliable supplier to global LNG markets,” said François Poirier, President and Chief Executive Officer of TC Energy. “Increasing LNG exports presents an extraordinary opportunity to transform our economy and establish our country as the number one LNG exporter to Asia,” Poirier added.

“Natural gas pipelines continue to deliver secure, reliable and affordable Canadian energy, powering our economy, homes and businesses across the country. Coastal GasLink is the critical connection that allows our allies to share those same benefits and Canadian LNG strengthens global energy security while creating economic opportunities here at home.”

Coastal GasLink remains the 100 per cent owner, operator and permit holder for the pipeline and all associated future pipeline facilities.