BP, which saw its earnings more than double to $3.2 billion in Q1 2026 due in large part to a spike in crude oil prices as a result of the war in Iran, said April 28 that the full effect of those higher prices on earnings and refinery margins won’t be felt until the second quarter.
TC Energy announced that Coastal GasLink (CGL) and the LNG Canada have agreed to commercial terms with respect to Phase 2 of the CGL pipeline, a key milestone to advancing the project to FID. Phase 2 would double the pipeline's current capacity of approximately 2.1 Bcf/d to deliver feed gas from northeast British Columbia to the Shell-operated LNG Canada export facility on Canada's west coast at Kitimat, B.C. Phase 2 would be developed in conjunction with a doubling of the LNG Canada facility's current export capacity of 14 MMtpa. Among other things, the commercial agreement has LNG Canada leading construction of CGL Phase 2. TC Energy is the operator of the Coastal GasLink pipeline, while Shell is the operator of the LNG Canada facility.
Tourmaline advances gas strategy with new AltaGas storage, stronger Montney wells, and expanded LNG contracts.
