TC Energy Splitting Into Two Companies by Spinning Off Liquids Business

Pedestrians walk past a sculpture outside the TC Energy head office in downtown Calgary, Alta., Sept. 16, 2022. The Canadian Press/Jeff McIntosh

TC Energy Corp. has announced plans to split into two separate companies by spinning off its crude oil pipelines business.

The Calgary-based pipeline giant made the announcement—which it called “transformational”—after the close of markets Thursday, one day before its scheduled conference call to discuss the company’s second-quarter earnings.