TC Energy shareholders vote to spin off company’s liquids pipeline business

shareholders voted in favour of spinning off the Canadian company’s liquids pipeline business on Tuesday, creating a new energy infrastructure firm known as South Bow Corp whose assets include the Keystone oil pipeline.South Bow’s assets consist of nearly 4,900 kilometres of liquids pipelines that connect oil supply in Alberta and parts of the United States to refining markets in Illinois, Oklahoma and Texas.

The new company will carry a high debt load of $7.9-billion due to TC and faces competition from other pipeline companies looking to expand shipments to the U.S. Gulf Coast market. However South Bow will benefit from long-term shipping contracts covering 94 per cent of capacity on Keystone, providing guaranteed revenues.

España Últimas Noticias, España Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Duke Energy signs agreements with Amazon, Google, Microsoft for clean energy supplyExplore stories from Atlantic Canada.
Fuente: SaltWire Network - 🏆 45. / 63 Leer más »

Canada's energy regulator orders reduction in pressure on TC Energy's NGTL pipelineExplore stories from Atlantic Canada.
Fuente: SaltWire Network - 🏆 45. / 63 Leer más »

Canada's energy regulator orders reduction in pressure on TC Energy's NGTL pipelineA section of the NGTL gas pipeline system in Alberta was ruptured and caught fire on April 16, sparking a wildfire in a remote area. Last month, TC Energy...
Fuente: YahooFinanceCA - 🏆 47. / 63 Leer más »

South Korea, UAE summit to focus on defence, energy and investmentExplore stories from Atlantic Canada.
Fuente: SaltWire Network - 🏆 45. / 63 Leer más »

South Korea, UAE summit to focus on defence, energy and investmentExplore stories from Atlantic Canada.
Fuente: SaltWire Network - 🏆 45. / 63 Leer más »

South Carolina Senate turns wide-ranging energy bill into resolution supporting more powerCOLUMBIA, S.C. (AP) — A bill that power companies call vital to keeping the lights on in South Carolina has been turned into a resolution that only expresses...
Fuente: YahooFinanceCA - 🏆 47. / 63 Leer más »