On a conference call with analysts, CEO François Poirier attributed the lowered cost estimate for Southeast Gateway to 'really good project execution.'
project in Mexico is on track to come in 11 per cent below budget and should be operational no later than mid-2025, the Calgary-based company said Thursday.
On a conference call with analysts, CEO François Poirier attributed the lowered cost estimate for Southeast Gateway to “really good project execution,” adding that materials and equipment were procured for less than expected. He said the project also benefited from “more efficient construction and civil works activities.
While the company has said it remains committed to staying within an annual capital expenditure limit of between C$6 and C$7 billion for 2025 and beyond, it is keeping an eye on potential growth projects related to its natural gas business.
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