uploads///TCP pipelines overview

TC PipeLines—TransCanada’s important subsidiary


Nov. 20 2020, Updated 12:12 p.m. ET

TC PipeLines LP

TC PipeLines LP (TCP) is a master limited partnership (or MLP) that owns or has ownership in six interstate natural gas pipelines—mainly in California, the Pacific Northwest, and the Midwest regions of the U.S.

TransCanada Corp. (TRP) owns ~28.9% equity interest in TCP. TRP owns the interest indirectly—through its subsidiaries.

The pipelines include:

  1. GTN – a 1,353-mile pipeline that extends between an interconnection in British Columbia, Canada, and Oregon at the California border. It delivers natural gas to the Pacific Northwest and California. TCP owns 70% interest in the pipeline. TransCanada Corp. (TRP) owns the remaining 30%.
  2. Northern Border Pipeline system – extends between Montana, Canada, and a terminus near Indiana—south of Chicago. The company has a 50% interest in the pipeline. The pipeline is 1,408 miles long. It receives natural gas from Canada, the Williston Basin, and the Rocky Mountains. ONEOK Partners LP (or OKS) owns the remaining 50% interest.
  3. The Bison Pipeline – extends 303 miles from Wyoming to North Dakota. The pipeline transports natural gas from the Powder River Basin to Midwest markets. TCP has 70% interest ownership in the Bison. TRP owns the remaining 30%.
  4. Great Lakes Pipeline – connects with the TransCanada Mainline to Detroit, Michigan. The Great Lakes is a bi-directional pipeline that can receive and deliver natural gas at multiple points along its system. Ownership in this pipeline is 46.45%. TRP holds the remaining share.
  5. North Baja – the 86-mile pipeline is bi-directional. It transports natural gas between Arizona and California. TCP has 100% ownership interest.
  6. Tuscarora Pipeline system – extends between the GTN pipelines. It delivers gas in northeastern California and northwestern Nevada. TCP has 100% ownership interest.

Key exchange-traded funds (or ETFs)

TC PipeLines is a part of the Global X MLP & Infrastructure ETF (MLPX), the First Trust North American Energy Infrastructure Fund (EMLP), and the Global X MLP ETF MLP ETF (MLPA).

In the next part of the series, we’ll discuss TRP’s growth strategy.

Visit the Market Realist Energy MLPs page to learn more.

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