TC Energy Reports Strong First Quarter,Plans to Increase Spending

摘要

TC Energy Corp.announced May 1 that it has exceeded quarterly profit estimates because of higher demand for its natural gas pipelines in the United States and Canada.In addition,the company also plans to increase capital spending in support of building the Keystone XL pipeline.In its quarterly financial report,TC Energy stated that earnings for the first quarter 2020 were $1.1 billion(CAD),compared to $1 billion during the same period in 2019.”The availability of our infrastructure has remained largely unimpacted by recent events with utilization levels robust and in line with historical norms,”said president and CEO Russ Girling,adding that the company is”largely insulated from short-term volatility associated with volume throughput ahd commodity prices”because about 95 percent of its earnings are gen-erated from regulated assets and long-term contracts.