Canada's TC Energy sees natural gas opportunities in shift to green energy
Canadian energy infrastructure company TC Energy sees plenty of investment opportunities in its large natural gas business as a transition to cleaner energy evolves, Chief Executive François Poirier said.
Calgary-based TC Energy has the biggest natural gas pipeline system in North America, and Poirier said the company sees plenty of opportunities to allocate capital to that business in the form of organic bolt-on projects.
Storage and transportation assets will be key as the energy transition moves forward and new technologies aimed at reducing greenhouse gas emissions like carbon capture and storage and hydrogen are developed, he added, speaking at an online energy industry conference.
"Transition can't come fast enough from our perspective but we have to pace it appropriately. I believe natural gas and liquids will continue to play a prominent role in the energy economy for decades to come," Poirier said, speaking at the Scotiabank CAPP Energy Symposium.
"I believe our existing assets will continue to be used and be useful for quite a long time and generate a tremendous amount of cash flow that we will be able to deploy into the energy transition."
TC Energy also is the owner of the stymied Keystone XL oil pipeline, which had been in development for more than a decade before being blocked earlier this year when U.S. President Joe Biden revoked a key permit. (Reporting by Nia Williams Editing by Marguerita Choy)
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April 1, 2021 10:00 AM CDT