TC Energy names former CEO Hal Kvisle as chair of new liquids pipeline spinoff

Hal Kvisle speaks at the Global Business Forum in Banff, Alta., Thursday, Sept. 20, 2012. TC Energy Corp. is bringing back former chief executive Kvisle to serve as chair of the board of the the new liquids pipelines company it plans to spin off. THE CANADIAN PRESS/Jeff McIntosh

CALGARY — TC Energy Corp. is bringing back former chief executive Hal Kvisle to serve as chair of the board of the new liquids pipeline company it plans to spin off.

Kvisle was president and chief executive of TransCanada Corp., now named TC Energy, from 2001 to 2010.

TC Energy announced plans in July to split into two separate companies.

The plan will see TC Energy focus on natural gas infrastructure as well as nuclear, pumped hydro energy storage and new energy opportunities, while the new liquids pipeline company will focus on enhancing the value of its existing 4,900 kilometres of crude oil pipelines.

The new liquids pipeline business will be publicly traded and will be headquartered in Calgary, with an office in Houston.

The split is expected to be complete by the end of 2024.

This report by The Canadian Press was first published Oct. 12, 2023.

Companies in this story: (TSX:TRP)

The Canadian Press

News from © The Canadian Press, 2023. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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