TC Energy splitting into two separate companies

says it will split into two separate companies by spinning off its liquids pipelines business.

The Calgary-based pipeline giant says its board of directors has approved the plan, which comes as the result of a two-year strategic review. Following the transaction, TC Energy will focus on natural gas infrastructure as well as nuclear, pumped hydro energy storage and new energy opportunities. The new liquids pipeline business will focus on enhancing the value of the company’s existing 4,900 kilometres of crude oil pipelines.The new liquids pipeline business will be publicly traded and will be headquartered in Calgary, with an office in Houston, Texas.Checking box will enable automatic data updates.

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