Natural Gas Financial Survey, 2021
Released: 2023-03-10
In 2021, Canada's natural gas distribution and transport pipeline industry posted increases to operating revenues and expenses. The year saw considerable recovery in economic activity and demand for energy products compared with 2020, when the industry was affected by the COVID-19 pandemic. Prices for marketable natural gas also increased in 2021, as global economies reopened, demand returned and domestic and foreign travel began to rebound.
Revenue and expenses rise in 2021
Total operating revenues of Canadian natural gas distribution and transport pipeline companies increased 9.7% to $16.4 billion in 2021, compared with $14.9 billion in 2020. However, total operating revenues were 1.8% lower than their 2019 pre-pandemic levels ($16.7 billion).
Similarly, total operating expenses increased 4.6% to $12.5 billion in 2021, after decreasing 8.9% in 2020. Accordingly, net revenue from operations was $3.9 billion, a rise of 30.2% from 2020 and of 8.9% from 2019.
According to supply and disposition of natural gas data, marketable natural gas production rose 4.0% to 7.1 million terajoules in 2021 compared with the previous year. Monthly natural gas transmission statistics revealed that exports of natural gas to the United States rose 11.9% to 3.1 million terajoules. This coincided with the price of natural gas increasing 15.8%, which contributed to the rise in revenue from operations.
Balance sheet: higher assets
In 2021, Canadian natural gas companies reported that total assets were $86.6 billion, up 3.6% compared with the previous year. Fixed assets contributed to this growth, with an increase of 5.0% to $60.7 billion, compared with $57.8 billion in 2020. Total current assets were also higher in 2021, at $6.2 billion, a 1.2% increase compared with the previous year.
For more information on energy in Canada please see the "Energy: year in review 2021" section in the Daily release "Energy statistics, December 2021."
For more information on energy in Canada, including production, consumption, international trade and much more, please visit the Canadian Centre for Energy Information website and follow #energynews on social media.
Note to readers
The Annual Natural Gas Financial Survey collects financial data on natural gas pipeline transportation and distribution systems operating in Canada. The survey collects income, expense and balance sheet information from Canadian companies primarily engaged in natural gas distribution (North American Industry Classification System code 221210) and pipeline transportation of natural gas (North American Industry Classification System code 486210).
Transportation pipelines include gathering pipelines and transmission pipelines. Gathering pipelines collect natural gas from fields and plants. The gathered gas is then fed into large transmission pipelines that deliver either to distribution systems or to industrial consumers, such as oil and gas producers or power plants. In Canada, transportation systems originate in the major gas-producing regions of British Columbia and Alberta.
Distribution systems are pipeline networks that deliver gas directly to residential, commercial and industrial consumers.
Data are subject to revisions. Natural gas financial data are revised on an annual basis to reflect new information provided by respondent data.
Data are available upon request.
Contact information
For more information, or to enquire about the concepts, methods or data quality of this release, contact us (toll-free 1-800-263-1136; 514-283-8300; infostats@statcan.gc.ca) or Media Relations (statcan.mediahotline-ligneinfomedias.statcan@statcan.gc.ca).
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