South Bow Corporation operates as an energy infrastructure company focused on liquids pipelines and ancillary services that connect western Canadian crude oil supplies from Alberta to refining markets in the U.S. Midwest, Oklahoma, Illinois, and Gulf Coast; its core assets include 4,900 kilometres of pipeline infrastructure, primarily the Keystone Pipeline System transporting crude oil from Hardisty, Alberta, to U.S. delivery points, alongside the Intra-Alberta pipelines such as Grand Rapids and White Spruce for oil sands transportation to Edmonton and Heartland terminals; and marketing services encompassing crude oil transportation, storage at terminals, and logistics. Founded in 2023 and headquartered in Calgary, Alberta, Canada, with additional operations in Houston, Texas, the company serves North American energy producers and refiners across Canada and the United States in the oil and gas midstream sector. South Bow became a standalone entity through a spinoff from TC Energy Corporation effective October 1, 2024, following shareholder approval in June 2024; it reported third-quarter 2025 profit of $93 million, up from the prior year, and outlined plans at its November 2025 investor day to double enterprise value to over $30 billion in five years via $3 billion to $8 billion in acquisitions of rival pipelines and terminals, $4 billion in organic growth including Alberta network expansions, and disciplined diversification of revenue streams while maintaining a quarterly dividend of U.S.$0.50 per share.