{ "schemaVersion": 1, "organisationId": "O-0bc6dd6a3a5843b0a2424cb8cc171bef", "slug": "tc-energy", "name": "TC ENERGY CORP", "updatedAt": "2026-09-28T11:30:45.42395Z", "sections": [ { "type": "OVERVIEW", "text": "TC Energy Corporation is a North American energy infrastructure company focused on natural gas pipelines and storage, alongside power generation and other energy solutions. Its operations span Canada, the United States and Mexico. Following the 2024 separation of its liquids pipelines business into South Bow Corporation, natural gas and power form the core of TC Energy’s portfolio. [https://www.tcenergy.com/about/][https://www.tcenergy.com/announcements/2024/2024-10-01-tc-energy-completes-spinoff-of-its-liquids-pipelines-business-south-bow-corporation-tc-energy-to-issue-third-quarter-results-on-nov.-7]\n\nTC Energy describes its purpose as moving, generating and storing the energy that North America and the world rely on, while seeking to empower people and progress. It operates more than 93,000 kilometres of natural gas pipelines and describes its workforce as more than 6,500 employees. Revenue for 2025 was C$15.2 billion. [https://www.tcenergy.com/about/][https://www.tcenergy.com/siteassets/pdfs/natural-gas/2025-decommissioning-program/tce-ngtl-decommissioning-program-factsheet-2025.pdf][https://www.tcenergy.com/siteassets/pdfs/investors/reports-and-filings/annual-and-quarterly-reports/2025/tce-2025-annual-report.pdf]\n[https://www.tcenergy.com/about/][https://www.tcenergy.com/announcements/2024/2024-10-01-tc-energy-completes-spinoff-of-its-liquids-pipelines-business-south-bow-corporation-tc-energy-to-issue-third-quarter-results-on-nov.-7][https://www.tcenergy.com/siteassets/pdfs/natural-gas/2025-decommissioning-program/tce-ngtl-decommissioning-program-factsheet-2025.pdf][https://www.tcenergy.com/siteassets/pdfs/investors/reports-and-filings/annual-and-quarterly-reports/2025/tce-2025-annual-report.pdf]", "updatedAt": "2026-09-28T11:30:45.42395Z" }, { "type": "PRODUCTS", "text": "TC Energy’s principal service is natural-gas transportation through pipelines in Canada, the United States and Mexico. Its NGTL System gathers and moves gas from western Canada, while the Canadian Mainline carries western Canadian gas toward eastern Canadian and U.S. markets. U.S. systems include ANR, which connects southern gas supplies with Midwest markets and Michigan storage, and Gas Transmission Northwest, which carries Canadian gas to the U.S. Pacific Northwest and California. In Mexico, Southeast Gateway transports gas from Tuxpan toward Coatzacoalcos and Paraíso, with capacity exceeding 1,300 million cubic feet per day. Pipeline customers can purchase services such as firm transportation and, on the Canadian Mainline, long-term fixed-price transportation. [https://www.tcenergy.com/siteassets/pdfs/operations/operations-maps/tc-operations-map-2026.pdf][https://www.tcenergy.com/operations/natural-gas/anr-pipeline/][https://www.tcenergy.com/operations/natural-gas/gas-transmission-northwest/][https://www.tcenergy.com/operations/natural-gas/southeast-gateway-project/][https://www.tcenergy.com/operations/natural-gas/canadian-mainline/]\n\nThe company also provides underground natural-gas storage, including its Crossfield and Edson facilities in Alberta, which have stated capacities of 68 billion and 50 billion cubic feet, respectively. Its power offerings include electricity from nuclear and natural-gas-fired generation, alongside power marketing and trading; its generation interests include Bruce Power in Ontario and the Bécancour gas-fired cogeneration facility in Quebec. [https://www.tcenergy.com/operations/natural-gas/unregulated-storage/][https://www.tcenergy.com/siteassets/pdfs/operations/operations-maps/tc-operations-map-power-and-storage.pdf][https://www.tcenergy.com/operations/power/trading-platform/alberta-power-marketing/products-and-services/]\n\nIn 2025, capacity arrangements and transportation generated C$11.93 billion, approximately 78% of TC Energy’s C$15.24 billion total revenue. Natural-gas storage and other services generated C$1.80 billion, and power-generation revenue was C$236 million; these are revenue categories rather than totals for individual assets or operating segments. [https://www.sec.gov/Archives/edgar/data/99070/000123238426000015/R43.htm]\n[https://www.tcenergy.com/siteassets/pdfs/operations/operations-maps/tc-operations-map-2026.pdf][https://www.tcenergy.com/operations/natural-gas/anr-pipeline/][https://www.tcenergy.com/operations/natural-gas/gas-transmission-northwest/][https://www.tcenergy.com/operations/natural-gas/southeast-gateway-project/][https://www.tcenergy.com/operations/natural-gas/canadian-mainline/][https://www.tcenergy.com/operations/natural-gas/unregulated-storage/][https://www.tcenergy.com/siteassets/pdfs/operations/operations-maps/tc-operations-map-power-and-storage.pdf][https://www.tcenergy.com/operations/power/trading-platform/alberta-power-marketing/products-and-services/][https://www.sec.gov/Archives/edgar/data/99070/000123238426000015/R43.htm]", "updatedAt": "2026-09-28T11:30:45.42395Z" }, { "type": "GEOGRAPHY", "text": "TC Energy is headquartered in Calgary, Alberta, and operates across Canada, the United States and Mexico. In Canada, its natural gas network includes the NGTL System in Alberta and British Columbia and the Canadian Mainline, which carries gas from western Canada toward eastern Canadian and U.S. markets. Its U.S. pipelines connect regions including the Midwest, Gulf Coast and Northeast, while its Mexican pipelines serve power-generation and other markets. Its power interests include a stake in Bruce Power in Ontario. [https://www.sec.gov/Archives/edgar/data/1232384/000123238425000018/trp-20241231.htm][https://www.tcenergy.com/siteassets/pdfs/investors/reports-and-filings/regulatory-filings/2024/tce-2024-annual-information-form.pdf]\n\nIn 2024, Canadian natural gas pipelines generated C$5.60 billion, or approximately 41% of TC Energy’s C$13.77 billion total revenue; U.S. natural gas pipelines generated C$6.34 billion, or 46%; and Mexico natural gas pipelines generated C$870 million, or 6%. These are operating-segment figures, not a breakdown of revenue by customer location. The remaining revenue came principally from Power and Energy Solutions. [https://www.sec.gov/Archives/edgar/data/1232384/000123238425000018/R43.htm]\n[https://www.sec.gov/Archives/edgar/data/1232384/000123238425000018/trp-20241231.htm][https://www.tcenergy.com/siteassets/pdfs/investors/reports-and-filings/regulatory-filings/2024/tce-2024-annual-information-form.pdf][https://www.sec.gov/Archives/edgar/data/1232384/000123238425000018/R43.htm][https://www.sec.gov/Archives/edgar/data/1232384/000123238425000018/trp-20241231.htm][https://www.tcenergy.com/siteassets/pdfs/investors/reports-and-filings/regulatory-filings/2024/tce-2024-annual-information-form.pdf][https://www.sec.gov/Archives/edgar/data/1232384/000123238425000018/R43.htm]", "updatedAt": "2026-09-28T11:30:45.42395Z" }, { "type": "SEGMENTS", "text": "TC Energy reports four operating segments. Canadian Natural Gas Pipelines comprises natural gas transmission and regulated storage in Canada; U.S. Natural Gas Pipelines covers gas transmission and related storage in the United States; and Mexico Natural Gas Pipelines comprises gas transportation infrastructure in Mexico. Power and Energy Solutions includes power generation, unregulated natural gas storage and related energy services, including the company’s interest in Bruce Power. [https://www.sec.gov/Archives/edgar/data/1232384/000123238426000015/R9.htm][https://www.tcenergy.com/siteassets/pdfs/investors/reports-and-filings/regulatory-filings/2025/tce-2025-management-discussion-analysis.pdf]\n\nBased on 2025 revenue from the four segments, their approximate contributions were 38% for Canadian Natural Gas Pipelines, 47% for U.S. Natural Gas Pipelines, 10% for Mexico Natural Gas Pipelines and 6% for Power and Energy Solutions. These are revenue shares, not earnings shares; they exclude a small amount of Corporate revenue. TC Energy’s former Liquids Pipelines business is no longer a reported segment following its spin-off as South Bow in 2024. [https://www.sec.gov/Archives/edgar/data/99070/000123238426000015/R13.htm][https://www.tcenergy.com/siteassets/pdfs/investors/reports-and-filings/annual-and-quarterly-reports/2024/tce-2024-annual-report.pdf]\n[https://www.sec.gov/Archives/edgar/data/1232384/000123238426000015/R9.htm][https://www.tcenergy.com/siteassets/pdfs/investors/reports-and-filings/regulatory-filings/2025/tce-2025-management-discussion-analysis.pdf][https://www.sec.gov/Archives/edgar/data/99070/000123238426000015/R13.htm][https://www.tcenergy.com/siteassets/pdfs/investors/reports-and-filings/annual-and-quarterly-reports/2024/tce-2024-annual-report.pdf]", "updatedAt": "2026-09-28T11:30:45.42395Z" }, { "type": "HISTORY", "text": "TC Energy traces its origins to Trans-Canada Pipe Lines Limited, incorporated in 1951 to develop a natural-gas route across Canada. The company completed the final weld on its Canadian Mainline in 1958. In 1998, TransCanada PipeLines combined with NOVA Corporation, adding NOVA’s natural-gas pipeline business while NOVA’s chemicals business was separated. [https://www.tcenergy.com/siteassets/pdfs/investors/shareholders/historical-information/tcpl-regulatory-filings/2003/tcpl-2003-annual-filing-of-reporting-issuer.pdf][https://www.tcenergy.com/stories/business-and-economy/canada-150/][https://www.tcenergy.com/siteassets/pdfs/investors/shareholders/historical-information/transcanada-us-shareholders-taxletter-1998.pdf]\n\nThe company expanded its U.S. pipeline business through its 2004 acquisition of Gas Transmission Northwest and North Baja. Its Keystone oil pipeline began deliveries to the U.S. Midwest in 2010, and it completed the acquisition of U.S. natural-gas pipeline operator Columbia Pipeline Group in 2016. Shareholders approved the corporate name TC Energy in 2019. In 2024, TC Energy separated its liquids-pipelines business into South Bow Corporation. [https://www.tcenergy.com/about/our-legacy/][https://www.tcenergy.com/announcements/2010/2010-06-30keystone-pipeline-starts-deliveries-to-u.s.-midwest][https://www.tcenergy.com/announcements/2016/2016-07-01transcanada-completes-acquisition-of-columbia-pipeline-group-and-announces-exchange-date-for-subscription-receipts/][https://www.tcenergy.com/announcements/2019/2019-05-03transcanada-corporation-announces-shareholder-approval-of-corporate-name-change-and-2019-annual-and-special-meeting-board-of-directors/][https://prep.tcenergy.com/announcements/2024/2024-10-01-tc-energy-completes-spinoff-of-its-liquids-pipelines-business-south-bow-corporation-tc-energy-to-issue-third-quarter-results-on-nov.-7]\n[https://www.tcenergy.com/siteassets/pdfs/investors/shareholders/historical-information/tcpl-regulatory-filings/2003/tcpl-2003-annual-filing-of-reporting-issuer.pdf][https://www.tcenergy.com/stories/business-and-economy/canada-150/][https://www.tcenergy.com/siteassets/pdfs/investors/shareholders/historical-information/transcanada-us-shareholders-taxletter-1998.pdf][https://www.tcenergy.com/about/our-legacy/][https://www.tcenergy.com/announcements/2010/2010-06-30keystone-pipeline-starts-deliveries-to-u.s.-midwest][https://www.tcenergy.com/announcements/2016/2016-07-01transcanada-completes-acquisition-of-columbia-pipeline-group-and-announces-exchange-date-for-subscription-receipts/][https://www.tcenergy.com/announcements/2019/2019-05-03transcanada-corporation-announces-shareholder-approval-of-corporate-name-change-and-2019-annual-and-special-meeting-board-of-directors/][https://prep.tcenergy.com/announcements/2024/2024-10-01-tc-energy-completes-spinoff-of-its-liquids-pipelines-business-south-bow-corporation-tc-energy-to-issue-third-quarter-results-on-nov.-7]", 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