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Edmonton Journal
11-08-2025
- Business
- Edmonton Journal
Danielle Smith visits Mexico to strengthen ties in energy, agriculture
Article content 'I think, for Canada, Mexico represents a very important market to diversify on alternative markets,' he said, with the hope that the trilateral relationship between the U.S., Canada and Mexico repairs and grows. Article content Cortines said he was against the idea of a bilateral trade between Mexico and Canada that left the U.S. out. Article content 'All the economies are very interconnected,' he said. 'And there are some things that you can do directly create trade, but at the end of the day, we need to work together as an integrated area and it's going to benefit all the countries.' Article content Mexico also received a visit from Canada's foreign and finance ministers last week, following a commitment voiced by Prime Minister Mark Carney to repair ties between the two countries. Article content Article content 'This is an all-hands-on-deck moment for us to reignite the bilateral relationship,' Canadian Foreign Affairs Minister Anita Anand told Bloomberg on Friday. Article content In addition to an hour-long discussion with Mexican President Claudia Sheinbaum, Anand and Finance Minister Francois-Philippe Champagne also met with Mexico's economy czar and energy chief. Article content On the business side, their talks included representatives from Canadian Pacific Kansas City Ltd. railway, TC Energy Corp. and pension giant Caisse de Depot et Placement du Quebec. Article content During the meetings, both sides explored how Canadian companies and capital investors can help build infrastructure in Mexico that facilitates bilateral trade, including ports and rail, according to a person with direct knowledge of the talks. Strengthening energy security, including conventional and renewable power, was also discussed. Article content Article content 'This visit is part of Canada's diversification strategy, to leverage the connection with Mexico,' said Diego Marroquín, a fellow at the Center for Strategic and International Studies in Washington who focuses on North American trade. But, he added, it was also about 'damage control.' Article content Both Carney and Sheinbaum have voiced a strong desire to preserve the trilateral ties between Mexico and Canada, as have been continued for 31 years through the North American Free Trade Agreement in 1994 and then the U.S.-Mexico-Canada agreement that replaced it in 2020. Article content However, the relationship between the two became fraught after former prime minister Justin Trudeau mused last year about leaving Mexico out of a trade deal with the U.S. and suggested that Canada and the U.S. were better aligned on issues like China. Article content With Trudeau out of office, both sides have signalled intentions to repair the relationships and preserve opportunity for bilateral trade, especially in the face of Trump's tariff hikes on either side of the U.S. border. Article content
Calgary Herald
10-08-2025
- Business
- Calgary Herald
Danielle Smith visits Mexico to strengthen ties in energy, agriculture
Article content 'I think, for Canada, Mexico represents a very important market to diversify on alternative markets,' he said, with the hope that the trilateral relationship between the U.S., Canada and Mexico repairs and grows. Article content Cortines said he was against the idea of a bilateral trade between Mexico and Canada that left the U.S. out. Article content 'All the economies are very interconnected,' he said. 'And there are some things that you can do directly create trade, but at the end of the day, we need to work together as an integrated area and it's going to benefit all the countries.' Article content Mexico also received a visit from Canada's foreign and finance ministers last week, following a commitment voiced by Prime Minister Mark Carney to repair ties between the two countries. Article content Article content 'This is an all-hands-on-deck moment for us to reignite the bilateral relationship,' Canadian Foreign Affairs Minister Anita Anand told Bloomberg on Friday. Article content In addition to an hour-long discussion with Mexican President Claudia Sheinbaum, Anand and Finance Minister Francois-Philippe Champagne also met with Mexico's economy czar and energy chief. Article content On the business side, their talks included representatives from Canadian Pacific Kansas City Ltd. railway, TC Energy Corp. and pension giant Caisse de Depot et Placement du Quebec. Article content During the meetings, both sides explored how Canadian companies and capital investors can help build infrastructure in Mexico that facilitates bilateral trade, including ports and rail, according to a person with direct knowledge of the talks. Strengthening energy security, including conventional and renewable power, was also discussed. Article content Article content 'This visit is part of Canada's diversification strategy, to leverage the connection with Mexico,' said Diego Marroquín, a fellow at the Center for Strategic and International Studies in Washington who focuses on North American trade. But, he added, it was also about 'damage control.' Article content Article content Both Carney and Sheinbaum have voiced a strong desire to preserve the trilateral ties between Mexico and Canada, as have been continued for 31 years through the North American Free Trade Agreement in 1994 and then the U.S.-Mexico-Canada agreement that replaced it in 2020. Article content However, the relationship between the two became fraught after former prime minister Justin Trudeau mused last year about leaving Mexico out of a trade deal with the U.S. and suggested that Canada and the U.S. were better aligned on issues like China. Article content With Trudeau out of office, both sides have signalled intentions to repair the relationships and preserve opportunity for bilateral trade, especially in the face of Trump's tariff hikes on either side of the U.S. border. Article content Trump hiked tariffs to 35 per cent on Canadian goods that don't comply with the continental free-trade agreement, in part because the northern nation retaliated against his levies. Mexico, which hasn't hit back, was granted a 90-day reprieve while negotiations with the US continue. Article content
Calgary Herald
05-08-2025
- Business
- Calgary Herald
Natural gas prices have collapsed in Western Canada, but producers are ramping up spending
Article content Two of the country's largest natural gas producers announced new or accelerated growth plans this week — betting better days are head for the sector despite Western Canadian gas prices that are currently 'well below' the cost of supplying the fuel to markets. Article content Tourmaline Oil Corp., Canada's largest natural gas producer, announced plans this week to grow production 30 per cent by 2031 — echoing predictions from TC Energy Corp. and others that demand for natural gas across North America will accelerate in the next decade. Still, natural gas prices in Western Canada are currently hovering near 40-year lows. Article content Article content Article content 'We will be a materially larger, more profitable company right about the time that we expect the continent to be getting short on resource,' Tourmaline chief executive Mike Rose said Wednesday, outlining plans for an initial $350 million spend in northeastern British Columbia's Montney shale gas region. Article content 'We can slow down if prices aren't cooperating, or we can accelerate if prices are ahead of what we're expecting,' Rose said, adding, 'That doesn't seem to happen very often.' Article content The company also announced a new eight-year supply deal with German energy firm Uniper SE on Wednesday that will provide 80,000 million British thermal units per day (MMBtu/d) of natural gas to export terminals on the U.S. Gulf Coast beginning in November 2028. Article content Article content Tourmaline said it aims to increase production to to 850,000 barrels of oil equivalent per day (boe/d) by 2031, up from roughly around 629,265 boe/d in the first half of this year, with new gas plants and transportation infrastructure. Article content Article content Rival gas producer ARC Resources Ltd. said it is raising its capital spend for the year, closing an acquisition from Strathcona Resources Ltd. and accelerating growth plans for its Attachie project in northeastern B.C. Article content Article content Despite its optimistic outlook for growth, the company said it has elected to shut-in all of its dry gas production for the moment, amounting to approximately 60,000 boe/d, until prices recover. Article content 'We just refuse to waste the resource when we don't have to wait that long to make a better rate of return on those assets,' Bibby said, noting the company expects prices in Western Canada will improve later this year and through 2026 as LNG Canada continues to ramp up to full capacity at its shipping terminal on the B.C. coast.
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.
