TC Energy Could Divest Keystone Oil Pipeline, Analysts Say
Pipes for the Keystone XL pipeline stacked in a yard near Oyen, Alberta, Canada, in 2021.
Photographer: Jason Franson/BloombergThis article is for subscribers only.
TC Energy Corp. could sell billions of dollars of assets to help fund projects in Mexico and Western Canada and may even seek the divestiture of its Keystone oil pipeline to the Gulf Coast, according to analysts.
The Canadian company may look to monetize its liquids pipelines as well as smaller gas pipelines with targeted proceeds of as much as C$4 billion ($2.9 billion), RBC Capital Markets analyst Robert Kwan said in a note Monday, citing a recent meeting with TC’s Chief Financial Officer Joel Hunter.