CALGARY, Alberta, April 7 (Reuters) - Canada's largest
pipeline companies TC Energy and Enbridge Inc
see opportunities in their extensive natural gas businesses as a
transition to cleaner energy evolves, their chief executives
said on Wednesday.
The two Calgary-based companies are among North America's
largest energy infrastructure firms, and the majority of their
business is focused on storing and transporting fossil fuels.
TC Energy has the biggest natural gas pipeline system in
North America, and CEO François 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, Poirier said at the online Scotiabank
CAPP Energy Symposium.
"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," he said.
"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
Enbridge CEO Al Monaco, speaking at the same conference,
said he saw gas as the "great enabler" for the energy transition
because it is a reliable source of power that can backstop
"It's low-cost, abundant, it's important in reducing
utilization of coal, but it's equally important in fostering
renewables. You've got to be able to create baseload capability
and it addresses the enormous intermittency challenges," he
Both companies are also investing in clean energy projects,
and looking into developing technology to transport hydrogen.
(Reporting by Nia Williams
Editing by Marguerita Choy)