TC Energy Corporation expects a boost in its core profit for 2025, driven by increasing demand for natural gas and electricity in North America. The Canada-based pipeline operator made the announcement during its Investor Day event on Tuesday.
The company forecasts its comparable core earnings (EBITDA) to be between US$7.6 billion and US$7.77 billion (C$10.7 billion to C$10.9 billion) in 2025, up from the upper end of US$7.2 billion (C$10.1 billion) for this year.
François Poirier, President and CEO of TC Energy, stated, “With natural gas and electricity expected to account for 75 percent of the growth in final energy consumption through 2035, our portfolio of natural gas and power assets is well-positioned to capitalize on the opportunities across North America.”
The company has strategically aligned its portfolio around natural gas and power, two sectors where widespread electrification is a key factor in driving future demand.
TC Energy predicts a nearly 40 Bcf/d increase in North American natural gas demand by 2035, driven by a three-fold rise in LNG exports, growth in power generation from retiring coal plants, and the rising demand from data centers.
Currently, TC Energy has about 13 Bcf/d of projects under development. The company believes its assets will play a crucial role in providing reliable, affordable, and sustainable energy.
With strong demand for natural gas in the U.S. and Canada, along with rising U.S. LNG exports and the expected first Canadian LNG exports next year, TC Energy is poised for higher profits. The growing use of natural gas for electricity generation in the U.S. and Mexico will also support the company’s growth and asset utilization.
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