TC Energy, a leading energy infrastructure company, has announced the launch of South Bow Corp, a new independent crude oil pipeline business. This move is part of TC Energy’s ongoing efforts to optimize its portfolio and focus on its core assets.
South Bow Corp will operate as a standalone entity, with its own management team and board of directors. It will be responsible for the operation and maintenance of TC Energy’s crude oil pipeline assets in Alberta, including the Keystone Pipeline System, the Hardisty Terminal, and the Cushing Terminal.
According to TC Energy’s President and CEO, François Poirier, the creation of South Bow Corp will allow the company to better serve its customers and stakeholders. “By establishing South Bow Corp as an independent business, we are able to enhance our focus on our core assets and provide more tailored services to our customers,” Poirier said in a statement.
The decision to launch South Bow Corp comes after a strategic review of TC Energy’s assets, which identified the need for a more streamlined and efficient approach to managing its crude oil pipeline business. This move will also allow TC Energy to better align with the changing market dynamics and evolving customer needs.
South Bow Corp will continue to operate under TC Energy’s commitment to safety, environmental responsibility, and community engagement. The company will also maintain its strong relationships with Indigenous communities and stakeholders, as well as its commitment to supporting local economies.
The launch of South Bow Corp is expected to have no impact on TC Energy’s financial outlook for 2021. The company remains committed to delivering long-term value to its shareholders and stakeholders.
In conclusion, the creation of South Bow Corp marks an important step in TC Energy’s strategic plan to optimize its portfolio and focus on its core assets. This move will allow the company to better serve its customers and stakeholders, while maintaining its commitment to safety, environmental responsibility, and community engagement.
