Happy Monday! Welcome back to another week of ESC News Blog!
Did anyone read The Houston Chronicle’s Business Section on June 7, 2024, their article titled, “Pipeline giant to split; Houston gets offices”? This article is in regard to Canada’s TC Energy Corp. and their shareholders approved a company offshoot called South Bow Corp. who will be publicly traded later in 2024. TC Energy will be in charge of their natural gas and alternative energy assets, while South Bow Corp. will be in charge of their liquid assets which include over 3,000 miles of crude pipeline.
South Bow Corp. is currently a division of TC Energy whose profit margin was roughly $727 million in 2023. The decision to separate the organization was so South Bow Corp. would be able to expand their liquid assets for future growth and its own CAPEX projects per client demand. South Bow Corp.’s future offices will be in Houston, and they have 60 personnel presently with an expectancy of growing to 100. Their crude assets include the Keystone pipeline network as well as others in Canada and the U.S. including some here in Texas connecting to the Gulf of Mexico. We wish South Bow Corp. much luck in expanding their petroleum business. If you would like to read more of the article from The Houston Chronicle, please click the link: TC Energy to spin off oil pipeline company with Houston headquarters (houstonchronicle.com).
If you would like help in looking into how to transport your liquid product from your terminal and reduce your emissions to spearhead your company’s goal of becoming carbon neutral, contact us via the email in the blog and check out our ESC's website!
We hope you have a great and productive week! Keep cool!
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