Canadian Pipeline Icon Plans Name Change
Iconic Canadian pipeline company TransCanada said January 9 it is planning to change its name to TC Energy to better reflect its position as a leading North American provider of energy infrastructure.
At the company’s next annual meeting in 2Q 2019, shareholders will be asked to approve the change, which will take effect immediately if they do. The new company will continue to trade on the Toronto and New York stock exchanges under the symbol TRP.
“TC Energy better reflects the breadth of our business and acknowledges our history of safely and responsibly delivering the energy that millions of North Americans rely on every day,” TransCanada CEO Russ Girling said. “We believe the name TC Energy clearly articulates our complete business – pipelines, power generation and energy storage operations – and reflects our continued continental growth into an enterprise with critical assets and employees in Canada, the US and Mexico.”
TransCanada operates one of the largest natural gas transmission networks in North America, extending more than 91,900 km (57,100 miles) and connecting major supply basins with markets across the continent. It operates 653bn ft3 of natural gas storage capacity, owns or has interests in more than 6 GW of power generating capacity in Canada and the US and is the developer and operator of one of North America’s leading liquids pipeline networks, extending some 4,900 km.