South Bow, a new company that will own and operate the Calgary company’s 4,900-km oil pipeline network, will be led by TC Energy executive Bevin Wirzba. Under the arrangement, existing shareholders will receive one new common share of TC Energy and 0.2 South Bow shares in exchange for every TC share they own. (The Logic)
Skip to content
South Bow, a new company that will own and operate the Calgary company’s 4,900-km oil pipeline network, will be led by TC Energy executive Bevin Wirzba. Under the arrangement, existing shareholders will receive one new common share of TC Energy and 0.2 South Bow shares in exchange for every TC share they own. (The Logic)
Talking point: The new company draws a line between the pipeline company’s oil and natural gas assets. TC has been contemplating the future of its oil pipeline business since about 2020, according to public documents, as it continued to expand its natural gas business, which is seen by some as a strategically superior commodity given its lower emissions profile. TC Energy—formerly TransCanada, the company behind the high-profile and controversial Keystone XL pipeline proposal—will become more of a utility company under the deal, focused on natural gas transmission, transportation and carbon capture.
Loading...
Thanks for sharing!
You have shared 5 articles this month and reached the maximum amount of shares available.
CloseThis account has reached its share limit.
If you would like to purchase a sharing license please contact The Logic support at [email protected].
CloseGift the full article!
You have gifted 0 article(s) this month and have 5 remaining.
Recipients will be able to read the full text of the article after submitting their email address. They will not have access to other articles or subscriber benefits.
Most Popular This Week
In-depth, agenda-setting reporting
Great journalism delivered straight to your inbox.
Subscriber Survey
Most of you think AI will change your job, but not replace you
Briefing
TC Energy says North American natural gas demand is growing much faster than previously expected
Mississauga imposes data centre pause, as Toronto councillors scrutinize local projects
A third of Canadian workers are using generative AI, but not for everything
Best business newsletter in Canada
Get up to speed in minutes with insights and analysis on the most important stories of the day, every weekday.
Exclusive events
See the bigger picture with reporters and industry experts in subscriber-exclusive events.
Membership in The Logic Council
Membership provides access to our popular Slack channel, participation in subscriber surveys and invitations to exclusive events with our journalists and special guests.
