TC Energy Clear to Keep Insurers Secret
(Bloomberg) -- TC Energy Corp. is the latest Canadian pipeline company allowed to keep its insurers confidential as activist groups push firms to drop business with the fossil fuels industry.
The Canada Energy Regulator ruled that the names of TC Energy’s insurers are “commercial information” and the midstream company has met the requirement of “consistently treating” this information as confidential, according to a ruling on the agency’s website.
Pressure from environmental groups has prompted some major insurance companies to halt support for energy projects. Zurich Insurance Group AG last year dropped its coverage of the Trans Mountain pipeline, which carries crude from the Canadian oil sands to the country’s Pacific Coast. In April, the pipeline’s operator received permission for insurer secrecy.
TC Energy requested permission to keep insurers confidential in May as part of its annual reporting requirements for its gas pipeline network. The company didn’t immediately reply to requests for comment.
© 2021 Bloomberg L.P.
What do you think? We’d love to hear from you, join the conversation on the
Rigzone Energy Network.
The Rigzone Energy Network is a new social experience created for you and all energy professionals to Speak Up about our industry, share knowledge, connect with peers and industry insiders and engage in a professional community that will empower your career in energy.