Abu Dhabi's sovereign wealth fund Mubadala Investment Co. is one of the entities interested in taking a stake in TC Energy Corp.'s planned Coastal GasLink natural gas pipeline, Bloomberg News reported Oct. 7, citing people familiar with the matter.
A representative for TC Energy told Bloomberg the company does not comment on market rumors but said it "[continues] to advance funding plans for [its] Coastal GasLink project including the potential sale of an ownership interest and project financing." A Mubadala representative declined to comment, Bloomberg said.
Earlier this year, TC Energy enlisted RBC Capital Markets to sell as much as 75% of the C$6.2 billion Coastal GasLink pipeline, which would serve the planned Royal Dutch Shell PLC-led C$40 billion LNG Canada Development Inc. project in Kitimat, British Columbia.
First Nations groups are planning to offer to buy up to 22.5% of the pipeline, The Globe and Mail reported in April. The groups reportedly want until Oct. 30 to work out the details of the offer.
