Amanda Stephenson, The Canadian PressCole Pereira, equity research director of Stifel Financial, joins BNN Bloomberg to discuss TC Energy's South Bow spinoff.
The move is the result of a strategic review in which the Calgary-based TC considered its options including the potential sale of the oil pipelines business. TC Energy also has plans to look at new, low-carbon energy opportunities such as nuclear and pumped hydro energy storage.
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TC Energy launches South Bow Corp. as independent pipeline businessThe new company, which will be headquartered in Calgary with an office in Houston, will be led by Bevin Wirzba.
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