The liquids company, yet to be formally named, will hold 4,900 kilometres of oil pipelines, including the Keystone and Marketlink network, as well as the Grand Rapids and White Spruce pipelines in Alberta.Article content
On Friday, TC Energy’s share price dropped $2.05 to close at $45.25 on the Toronto Stock Exchange, and has fallen by a third in the past 12 months. “Is that transformational? Maybe not the word I would pick,” Ellis added. “Is it an attractive, incremental improvement to the business that I think is thoughtful, about trying to create some shareholder value? Yes”
“But I can’t blame my successors for rethinking all that, given the challenges that they faced in trying to get Keystone XL approved . . . so I can see that maybe the oil pipeline growth story is not quite as appealing,” said Kvisle, who retired in 2010.