Company News

TC Energy files for new discounted spot rates on Marketlink crude pipeline

NEW YORK, Aug 8 (Reuters) - TC Energy Corp told U.S. regulators it plans to offer temporary discounted spot rates to shippers on its Marketlink crude pipeline that runs from Cushing, Oklahoma to Port Arthur and Houston, Texas, during September:

* The company plans to charge $2.25 per barrel to ship light crude and $2.70 to ship heavy crude from Cushing to Port Arthur and Houston, according to a regulatory filing on Thursday.

* As new pipelines start up to the Gulf Coast from the Permian, the biggest shale basin in the country, flows to Cushing are expected to dwindle.

* The discounted rates from Marketlink are expected to encourage shippers to continue shipments from Cushing to the Gulf Coast, even as prices at Cushing strengthen, traders said. (Reporting by Devika Krishna Kumar in New York; Editing by Steve Orlofsky)