The Canadian natural gas industry faces “a high degree of uncertainty,” according to TC Energy Corp.’s supply collection grid in Alberta and British Columbia (BC), Nova Gas Transmission Ltd. (NGTL).

AECO Dec 23

Political and economic risks jeopardize up to C$3 billion ($2.3 billion) of additions that the pipeline network would build if the industry fulfilled its potential, management said in a new edition of NGTL’s annual five-year capital plan.

“System flow requirements in the 2024-2025 portion of the design horizon have a high degree of uncertainty due to the influence of major market factors that are still too early in their development to predict,” the plan said.

The unknowns include government legislation, the pace and scale of Alberta thermal oilsands development as...