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Calgary Herald
01-08-2025
- Business
- Calgary Herald
Despite pipeline talk, Enbridge, TC Energy see strong demand in U.S., hurdles in Canada
Article content Calgary pipeline giants Enbridge Inc. and TC Energy Corp. say they're seeing stronger customer demand in the United States, even as Canadian politicians push for nation-building infrastructure north of the border. Article content François Poirier, the chief executive of TC Energy, said the company's returns in the U.S. 'are meaningfully higher than in Canada,' which means it will focus on the much larger market, despite hopes for a pipeline project on its home turf. Article content Article content 'Canada gas has to compete for capital with the other business units in the company,' Poirier said this week during a conference call on quarterly earnings. Article content Article content 'We are going to be allocating capital predominantly in the U.S. until competitive projects in other jurisdictions present themselves that compel us to allocate capital elsewhere.' Article content For its part, Enbridge says federal energy policies are still standing in the way of a possible major new pipeline in Canada, while its customers are looking for relatively smaller and faster projects in the United States. Article content The pipeline operator, which was behind the ill-fated Northern Gateway project that would have taken Alberta oil to British Columbia's northern coast, said Friday policies such as a tanker ban are holding back investment. Article content 'We have been a proponent of such a project in the past and, in fact, invested several $100 million dollars to get there,' Enbridge CEO Greg Ebel told analysts in a conference call. Article content Article content 'So the issue is not one of there being a proponent. The issue is one of government policy setting the conditions for that to get investment to occur. Let's be honest, the government has not done that yet, and it's not clear they intend to, at least from our perspective.' Article content Article content The Carney government's recent Bill C-5 gives Ottawa the ability to fast-track infrastructure projects it deems vital for the national economy, but has yet to announce a list of projects. Article content In the absence of any action from the government, Ebel said any line to the west coast would effectively be a 'pipeline to nowhere.'
Edmonton Journal
01-08-2025
- Business
- Edmonton Journal
Despite pipeline hopes, Enbridge, TC Energy see strong demand in U.S., hurdles in Canada
Article content Calgary pipeline giants Enbridge Inc. and TC Energy Corp. say they're seeing stronger customer demand in the United States, even as Canadian politicians push for nation-building infrastructure north of the border. Article content François Poirier, the chief executive of TC Energy, said the company's returns in the U.S. 'are meaningfully higher than in Canada,' which means it will focus on the much larger market, despite hopes for a pipeline project on its home turf. Article content Article content 'Canada gas has to compete for capital with the other business units in the company,' Poirier said this week during a conference call on quarterly earnings. Article content Article content For its part, Enbridge says federal energy policies are still standing in the way of a possible major new pipeline in Canada, while its customers are looking for relatively smaller and faster projects in the United States. Article content 'We have been a proponent of such a project in the past and, in fact, invested several $100 million dollars to get there,' Enbridge CEO Greg Ebel told analysts in a conference call. Article content Article content 'So the issue is not one of there being a proponent. The issue is one of government policy setting the conditions for that to get investment to occur. Let's be honest, the government has not done that yet, and it's not clear they intend to, at least from our perspective.' Article content Article content The Carney government's recent Bill C-5 gives Ottawa the ability to fast-track infrastructure projects it deems vital for the national economy, but has yet to announce a list of projects.
Edmonton Journal
01-08-2025
- Business
- Edmonton Journal
Enbridge sees strong demand in U.S., hurdles in Canada
Article content Calgary pipeline giants Enbridge Inc. and TC Energy Corp. say they're seeing stronger customer demand in the United States, even as Canadian politicians push for nation-building infrastructure north of the border. Article content François Poirier, the chief executive of TC Energy, said its returns in the U.S. 'are meaningfully higher than in Canada,' which means it will focus on the much larger market, despite hopes for a pipeline project on its home turf. Article content Article content 'Canada gas has to compete for capital with the other business units in the company,' Poirier said this week during a conference call on quarterly earnings. Article content Article content For its part, Enbridge says federal energy policies are still standing in the way of a possible major new pipeline in Canada, while its customers are looking for relatively smaller and faster projects in the United States. Article content The pipeline operator, which was behind the ill-fated Northern Gateway project that would have taken Alberta oil to British Columbia's northern coast, said Friday policies such as a tanker ban are holding back investment. Article content 'The issue is one of government policy' Article content 'We have been a proponent of such a project in the past and, in fact, invested several $100 million dollars to get there,' Enbridge CEO Greg Ebel told analysts in a conference call. Article content Article content 'So the issue is not one of there being a proponent. The issue is one of government policy setting the conditions for that to get investment to occur. Let's be honest, the government has not done that yet, and it's not clear they intend to, at least from our perspective.' Article content Article content The Carney government's recent Bill C-5 gives Ottawa the ability to fast-track infrastructure projects it deems vital for the national economy, but has yet to announce a list of projects. Article content The controversial bill grants the government the authority to override existing laws, theoretically including the ban on oil tankers on the northwest coast of B.C., which would allow for export to Pacific markets.
Globe and Mail
31-07-2025
- Business
- Globe and Mail
TC Energy posts higher second-quarter profits, raises full-year forecast
TC Energy Corp. TRP-T says its second quarter profits rose from a year earlier despite a complex macroeconomic backdrop. The Calgary-based pipeline producer says it had a net income of $862-million, or 83 cents per share in the quarter, up from $804-million or 78 cents per share last year. Revenues totalled $3.74-billion, up from $3.33-billion last year. Norway's Marinvest Energy pitches LNG project in Quebec The company says that despite volatility in commodity markets, the company is raising its expected earnings before certain deductions this year. It says it now expects between $10.8-billion to $11-billion in comparable earnings before interest, taxes, depreciation and amortization, up by $100-million from its earlier guidance. The company also increased its expected capital spending for the year to between $6.1-billion and $6.6-billion, a $600-million increase.
Winnipeg Free Press
31-07-2025
- Business
- Winnipeg Free Press
TC Energy reports $862 million second quarter profit
CALGARY – TC Energy Corp. says its second quarter profits rose from a year earlier despite a complex macroeconomic backdrop. The Calgary-based pipeline producer says it had a net income of $862 million, or 83 cents per share in the quarter, up from $804 million or 78 cents per share last year. Revenues totalled $3.74 billion, up from $3.33 billion last year. The company says that despite volatility in commodity markets, the company is raising its expected earnings before certain deductions this year. It says it now expects between $10.8 billion to $11 billion in comparable earnings before interest, taxes, depreciation and amortization, up by $100 million from its earlier guidance. The company also increased its expected capital spending for the year to between $6.1 billion and $6.6 billion, a $600 million increase. Monday Mornings The latest local business news and a lookahead to the coming week. This report by The Canadian Press was first published July 31, 2025. Companies in this story: (TSX: TRP)
