Encana, Tourmaline, Jupiter, NuVista, Peyto, and TC Energy have reportedly been meeting with the Alberta government since the beginning of 2019 to find a solution on how to fix its natural gas industry.
The largest talking point has been how to resolve a two-year fight between the gas producers and TC Energy over how the pipeline giant allocates space on its Nova gas system when certain lines are down for maintenance. When TC Energy limits access to storage during maintenance, producers see wild swings in the AECO benchmark natural gas price and unpredictable gas royalties for the province.
A truce has been reached between producers and TC Energy as a proposal has been sent to allow producers to voluntarily scale back production during maintenance periods on TC Energy's pipelines in exchange for royalty credits.
Energy Transfer is reportedly considering the sale of its 33% stake in the Rover pipeline that carries Appalachian natural gas to customers across the Midwest. The Company has hired an adviser to pursue the sale that could fetch as much as $2.5 billion.