TC Energy Corp. has raised its forecast for North American natural gas demand in the coming years and is considering ways its vast Canadian and U.S. pipeline network can respond to the surge.
The Calgary-based company is expecting 51 billion cubic feet per day in demand growth from 2025 levels through to 2035, driven by liquefied natural gas exports, gas-fired power generation and industrial growth. In late 2024, it had forecast 40 bcf/d. As recently as February of this year it had been calling for 46 bcf/d.
“Importantly, nearly 70 percent of this demand growth is concentrated in the U.S. heartland, Alberta, and Mexico—regions where TC Energy has a strong incumbent position and significant existing infrastructure,” TC chief executive François Poirier told analysts on a conference call after the company reported a bump in second-quarter profits….