TC Energy Corporation hosted its 2024 Investor Day, outlining its strategic vision and growth outlook as a leading North American energy infrastructure company. The company emphasized its focus on natural gas and power assets, which are projected to drive 75 percent of the growth in final energy consumption through 2035.
The company announced four new growth projects with a weighted average build multiple expected to range near the midpoint of 5 to 7 times. These projects are designed to capitalize on the forecast of North American natural gas demand increasing by nearly 40 Bcf/d by 2035, driven by LNG exports, power generation, and data center demand.
A significant milestone highlighted was the execution of a commercial agreement by Coastal GasLink LP with LNG Canada and its customers, declaring the pipeline commercially in-service. This agreement allows for the collection of tolls from customers retroactive to October 1, 2024. TC Energy also projected an above-average comparable EBITDA growth rate of approximately five to seven percent through 2027, with 97 percent of its comparable EBITDA underpinned by rate-regulation or long-term take-or-pay contracts.
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