TC Energy’s board of directors have approved plans to split the company into two independent, publicly-listed, entities.
Expected to be completed by mid-2024, the plan would create a new spin-off company known as the Liquids Pipelines Company.
It would be responsible for overseeing and enhancing the value of TC’s existing network of over 4,900 kilometres of crude oil pipelines.
That will allow TC Energy itself to focus solely on developing and growing reliable natural gas and low-carbon energy solutions, such as nuclear.
TC’s network of over 93,000 kilometres of natural gas infrastructure will remain under their purview post-split, including the Coastal GasLink pipeline.
