TC Energy's NGTL Pipeline Faces Pressure Reduction Order Despite Repaired Rupture: Report

The Canada Energy Regulator (CER) reportedly issued an order to TC Energy Corp.’s TRP NOVA Gas Transmission Ltd. (NGTL) to further reduce the operating pressure for the Grande Prairie Mainline gas pipeline in Alberta.

As per the report, TC Energy said in a statement, “Currently we do not have any service restrictions on the NGTL System and we do not anticipate any service interruption to natural gas delivery.”

Notably, NGTL is TC Energy's natural gas gathering and transportation system that transports gas produced in the Western Canadian Sedimentary Basin (WCSB) to markets in Canada and the U.S.

In April, TC Energy disclosed its NGTL gas pipeline system in Alberta had ruptured and caught fire.

Canada Energy Regulator (CER) sent inspectors to the area to monitor and oversee the company's response and determine the impact of the incident.

Last month, the company stated its NGTL gas pipeline system resumed normal operation and that the cause of the rupture was under investigation.

Investors can gain exposure to the stock via VanEck Energy Income ETF EINC and Barclays iPath Select MLP ETN ATMP.

TRP Price Action: TC Energy shares are up 0.90% at $39.07 at the last check Wednesday.

Photo: Shutterstock