TC Energy investment decision by LNG Canada and its partners. This move will raise system capacity to roughly 4.5 bcf/d, with operations slated to begin in the early 2030s.
Additionally, TC Energy authorized the ANR Optimization project, a roughly US$100 million expansion aimed at facilitating coal-to-gas fuel switching within the United States.
Strong pipeline earnings
The Calgary-based firm reported adjusted earnings of 94 Canadian cents per share for the third quarter, outperforming the average analyst estimate of 86 Canadian cents.
Adjusted core profit from U.S. natural gas pipelines, the company’s primary business segment, climbed more than 17 per cent to $1.25 billion for the quarter, while earnings from Canadian natural gas pipelines rose 4.4 per cent to $953 million.
For 2027, TC Energy projects adjusted core profit to range from $12.3 billion to $12.5 billion, with the midpoint slightly exceeding the average analyst estimate of $12.35 billion.
Net capital expenditure for the upcoming year is anticipated to fall between $6.0 billion and $6.5 billion.
TC Energy expects annual adjusted core profit growth of five to seven per cent through 2031, supported by roughly $6 billion in projects currently awaiting approval and more than $40 billion in potential development opportunities.
