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Epoch Times
02-05-2025
- Business
- Epoch Times
TC Energy Expanding US Gas Network to Fuel Data Centre Growth in Midwest
TC Energy Corp. has green-lit a US$900-million pipeline expansion feeding new natural gas-fired power plants in the U.S. Midwest, where artificial intelligence data centres are ravenous for electricity, as well as major refurbishments at the Bruce Power nuclear plant in Ontario. The Northwoods project would add 400,000 mmBTU's of capacity to TC's ANR system, which brings natural gas from Texas, Louisiana and Oklahoma to Wisconsin, Michigan, Illinois and Ohio. It is expected to come into service in late 2029 and is backed by 20-year contracts. The expansion would be done by adding parallel segments of pipe along the existing system as well as additional compression to push more gas through, Tina Faraca, the executive in charge of TC's natural gas pipelines, told analysts on a conference call to discuss the company's first-quarter results. 'We have a really strong record of progressing those types of projects on time and on budget,' she said. TC said it's also eyeing opportunities to power data centres being contemplated in Alberta, but chief executive François Poirier expects those would differ from projects it's pursing south of the border. In the U.S., TC has taken an 'in-front-of-the-meter' approach by providing fuel to big utilities that power the overall grid, as opposed to going 'behind the meter' and supplying a specific customer, like a data centre. Related Stories 4/10/2025 4/29/2025 'Strictly from a pipeline perspective, it's a little bit different in Canada, a little bit more of an 'if you build it they will come' kind of approach,' said Poirier. 'So we are working with producers, developers as well to see what the solution set might look like.' Data centres are massive operations that require an immense amount of electricity to run and cool off computer servers. Alberta's technology minister has said the province hopes to see $100 billion worth of artificial intelligence data centres under construction in the next five years. Greg Grant, the executive who leads TC's power and energy business, said prospective data centres are looking to connect to a collective 12 gigawatts of electricity in Alberta, about the same size as the province's existing grid 'We've been operating gas transmission, storage (and) power in Alberta for decades so I think that uniquely positions us on how we can quickly bring some of these services to fruition,' he said. But the company is not looking to set up an independent power plant to serve a data centre customer. 'We're going to be very thoughtful in our approach and of course we must compete for capital among all the other great opportunities,' Grant said. Also Thursday, TC said its board had decided to move ahead with a major component replacement on Unit 5 at its Bruce Power nuclear plant after receiving approval from the Ontario Independent Electricity System Operator last month. The $1.1-billion project is expected to begin in the fourth quarter of 2026 with service resuming by early 2030. Earlier in the day, TC reported $978 million in net income attributable to its common shares for its first quarter, down from $988 million a year earlier. It said its profit amounted to 94 cents per share for the quarter ended March 31 compared with a profit of 95 cents per share in the first three months of 2024. Comparable earnings totalled 95 cents per share, down from $1.02 a year earlier. Revenue for the quarter totalled $3.62 billion, up from $3.51 billion in the first quarter of 2024.
Global News
01-05-2025
- Business
- Global News
TC Energy expanding U.S. gas network for data centre growth
TC Energy Corp. has green-lit a US$900-million pipeline expansion feeding new natural gas-fired power plants in the U.S. Midwest, where artificial intelligence data centres are ravenous for electricity, as well as major refurbishments at the Bruce Power nuclear plant in Ontario. The Northwoods project would add 400,000 mmBTU's of capacity to TC's ANR system, which brings natural gas from Texas, Louisiana and Oklahoma to Wisconsin, Michigan, Illinois and Ohio. It is expected to come into service in late 2029 and is backed by 20-year contracts. The expansion would be done by adding parallel segments of pipe along the existing system as well as additional compression to push more gas through, Tina Faraca, the executive in charge of TC's natural gas pipelines, told analysts on a conference call to discuss the company's first-quarter results. 'We have a really strong record of progressing those types of projects on time and on budget,' she said. Story continues below advertisement TC said it's also eyeing opportunities to power data centres being contemplated in Alberta, but chief executive François Poirier expects those would differ from projects it's pursing south of the border. In the U.S., TC has taken an 'in-front-of-the-meter' approach by providing fuel to big utilities that power the overall grid, as opposed to going 'behind the meter' and supplying a specific customer, like a data centre. Get weekly money news Get expert insights, Q&A on markets, housing, inflation, and personal finance information delivered to you every Saturday. Sign up for weekly money newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy 'Strictly from a pipeline perspective, it's a little bit different in Canada, a little bit more of an 'if you build it they will come' kind of approach,' said Poirier. 'So we are working with producers, developers as well to see what the solution set might look like.' Data centres are massive operations that require an immense amount of electricity to run and cool off computer servers. Story continues below advertisement Alberta's technology minister has said the province hopes to see $100 billion worth of artificial intelligence data centres under construction in the next five years. Greg Grant, the executive who leads TC's power and energy business, said prospective data centres are looking to connect to a collective 12 gigawatts of electricity in Alberta, about the same size as the province's existing grid 'We've been operating gas transmission, storage (and) power in Alberta for decades so I think that uniquely positions us on how we can quickly bring some of these services to fruition,' he said. But the company is not looking to set up an independent power plant to serve a data centre customer. 'We're going to be very thoughtful in our approach and of course we must compete for capital among all the other great opportunities,' Grant said. Also Thursday, TC said its board had decided to move ahead with a major component replacement on Unit 5 at its Bruce Power nuclear plant after receiving approval from the Ontario Independent Electricity System Operator last month. The $1.1-billion project is expected to begin in the fourth quarter of 2026 with service resuming by early 2030. Earlier in the day, TC reported $978 million in net income attributable to its common shares for its first quarter, down from $988 million a year earlier. Story continues below advertisement It said its profit amounted to 94 cents per share for the quarter ended March 31 compared with a profit of 95 cents per share in the first three months of 2024. Comparable earnings totalled 95 cents per share, down from $1.02 a year earlier. Revenue for the quarter totalled $3.62 billion, up from $3.51 billion in the first quarter of 2024.
Yahoo
05-02-2025
- Business
- Yahoo
Quebec Says It's Open to LNG, Oil Projects After Trump Threats
(Bloomberg) -- Quebec has long resisted proposals to build new oil and gas pipelines through its territory. US President Donald Trump's threats against Canada might change that. State Farm Seeks Emergency California Rate Hike After Fires Transportation Memos Favor Places With Higher Birth and Marriage Rates NYC's Newest Transit Leader Builds a Worker-Driven Strategy New York's First 'Passive House' School Is a Model of Downtown Density San Francisco Wants Wealthy Donors to Help Fix Fentanyl Crisis Quebec Environment Minister Benoit Charette said the government of the Canadian province is open to reconsidering two major energy infrastructure projects that it previously rejected. TC Energy Corp.'s Energy East pipeline, which would have carried western Canadian crude to refineries in eastern Canada, was mothballed in 2017 over regulatory hurdles and intense political opposition in Quebec. A separate proposal known as GNL Quebec to build a liquefied natural gas pipeline and export terminal in the Saguenay region was rejected by both federal and provincial authorities on environmental grounds. Both would still be turned down if presented under the same terms today, but if they were improved, it's open for debate, Charette told reporters Wednesday. 'If we address these concerns today, these are projects that could be accepted,' he said. The comments underscore how Trump's threats to impose broad tariffs on US imports of Canadian goods have changed the political landscape in Canada. Trump has also made repeated statements that he believes Canada should become a US state — an idea that is rejected by a large majority of Canadians, according to polls. One survey by Ipsos, published shortly before Trump's inauguration, found that 80% of respondents would 'never' vote for Canada to become part of the US. Foreign Minister Melanie Joly, who's from Quebec, told a Montreal business audience Tuesday that Trump's threats might reshape how Quebeckers think about fossil fuel projects. 'It's a question people have to ask themselves here,' Joly said. 'At the same time, we have environmental objectives. We have to reduce our C02 emissions. I'm very, very interested to know: Does what's happened in the last few days change the game?' South Bow Corp., the oil pipeline company spun out of former Energy East proponent TC Energy Corp., declined to comment on Energy East. TC Energy, which owns the gas pipeline that would have been converted to carry oil under this project, didn't respond to a request for comment. --With assistance from Robert Tuttle. Amazon and SpaceX Want In on India's Satellite Internet Market Inside Elon Musk's Attack on the US Government Believing in Aliens Derailed This Internet Pioneer's Career. Now He's Facing Prison Elon Musk Inside the Treasury Department Payment System Orange Juice Makers Are Desperate for a Comeback ©2025 Bloomberg L.P.
