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TC Energy Corporation TRP, Calgary, Alberta-based Canada’s oil and gas storage and transportation company, is increasingly turning its attention to the U.S. market. With the demand for natural gas in North America expected to grow 40 billion cubic feet per day (bcf/d) over the next decade, the company sees a huge opportunity to expand its business in the United States.
While Canada is still important to TC Energy, CEO François Poirier has made this clear that the United States will be its main focus moving forward. This shift is due to the strong growth in natural gas consumption in the United States, combined with a more favorable regulatory environment. The U.S. policies under the Trump administration, which have made it easier to build energy infrastructure, have helped make the U.S. market more attractive.
Why the United States is the Focus
The United States is expected to see a significant increase in natural gas use over the next decade. TRP plans to expand its pipeline network to meet that demand. The company believes the U.S. market offers more stability and clearer regulations than Canada, where the approval process for energy projects can be slower and more unpredictable.
Even with ongoing trade tensions between the United States and Canada, such as tariffs on steel and aluminum, Poirier remains confident in the U.S. market’s long-term potential. He believes that, despite some short-term challenges, the fundamentals driving natural gas demand in the United States are strong.
Challenges in Canada
While the United States takes center stage for TC Energy’s future plans, Canada is still an important part of the business. The company is working on expanding its Coastal GasLink pipeline in British Columbia, which will supply natural gas to the LNG Canada export terminal. However, Poirier pointed out that the regulatory environment in Canada can be more difficult to navigate, with delays and bureaucratic hurdles sometimes slowing down projects.
Despite these challenges, TRP is hopeful that improvements to Canada’s regulatory system could create new opportunities for investment in the future.
Looking Forward: The United States at the Center
As TRP moves ahead, the company’s focus on the United States makes sense given the expected surge in natural gas demand. The U.S. government’s supportive policies and the growing need for energy infrastructure mean that TRP is in a strong position to invest in expanding its pipeline network.
While the company continues to see potential in Canada, its primary strategy now revolves around the United States. With the natural gas sector set to grow significantly over the next decade, TRP is positioning itself as a leader in meeting the increasing energy needs of North America.