A wave of transactions in the North American fossil fuel sector is tied to companies placing bets on oil, natural gas or clean power. Read on.
TC Energy Corp., the Canadian company behind the abandoned plan to build the controversial Keystone XL crude oil pipeline, is in the process of spinning off its oil business to focus on handling natural gas, a split it said would leave TC “uniquely positioned to meet growing industry and consumer demand for reliable, lower-carbon energy.”
For Dominion, the deal is also a bet on the transition, allowing it to sharpen its focus on state-regulated electric utilities and free up capital to invest in renewables to meet growing power demand. LeBlanc added that “the oil guys and the people who have been in the gas business are saying: gas has a lot going for it and it is the fuel that will become important if the road to renewables doesn’t work.”Article content
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Bets on energy transition spark rise in North American pipeline dealsA wave of transactions in the North American fossil fuel sector is tied to companies placing bets on oil, natural gas or clean power. Read on.
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