The Canadian natural gas distribution and transport pipeline industry posted total operating revenues of $18 billion in 2017, up 2.9 per cent from 2016, according to Statistics Canada.
The federal agency said total operating expenses increased 4.8 per cent from the previous year to $14.2 billion in 2017. As a result, the net revenue from operations was $3.8 billion.
“Several factors contributed to the increases in operating revenues and expenses, including higher natural gas receipts, rising industrial prices and stronger deliveries. For 2017, Canadian oil and natural gas companies reported 166.3 billion cubic metres of natural gas receipts from fields and plants, up 4.1 per cent compared with 2016,” said StatsCan.
“According to Statistics Canada’s Raw Materials Price Index, the average annual price of natural gas rose 8.7 per cent from 2016. Additionally, deliveries of natural gas to the residential, commercial and industrial sectors were up 2.8 per cent.”
It said transport pipelines exported 84.7 billion cubic metres of natural gas to the United States, up 3.3 per cent compared with the previous year, also contributing to the increase in operating revenues.
“In 2017, Canadian natural gas pipeline companies reported total assets of $127.1 billion, up 5.8 per cent compared with 2016. Of this total, fixed assets and total investments amounted to $113.1 billion, up 6.0 per cent,” explained Statistics Canada.
“Total current assets increased 6.5 per cent from 2016 to $6.8 billion. Total liabilities were $91.0 billion, an increase of 6.9 per cent compared with 2016. Total long-term debt represented the largest share of total liabilities at $63.2 billion (-3.1 per cent). Total shareholder equity increased 3.1 per cent to $36.1 billion in the Canadian natural gas distribution and transport pipeline industry.”
– Mario Toneguzzi for Calgary’s Business