Natural Gas Financial Survey, 2022
Released: 2024-03-11
In 2022, Canada's natural gas distribution and transport pipeline industry posted large increases to operating revenues and expenses, surpassing pre-COVID-19 pandemic values. Prices for marketable natural gas experienced a sharp increase in 2022 as economic recovery continued and demand for Canadian energy products increased due in part to the global market uncertainty caused by the Russian invasion of Ukraine.
Revenue and expenses rise in 2022
Total operating revenues of Canadian natural gas distribution and transport pipeline companies increased 25.3%, from $16.4 billion in 2021 to $20.6 billion in 2022. In 2022, operating revenues surpassed 2019 pre-pandemic levels ($16.7 billion).
Total operating expenses increased 23.5% to $15.6 billion in 2022, compared with a 4.9% increase in 2021. As a result, net revenue from operations was $5.0 billion in 2022, a rise of 31.7% from 2021.
According to supply and disposition of natural gas data, marketable natural gas production rose 7.3% from 2021 to 7.6 million terajoules in 2022. Monthly natural gas transmission statistics showed that exports of natural gas to the United States rose 8.0% to 3.3 million terajoules. This coincided with the price of natural gas increasing 25.6%, contributing to the rise in revenue from operations.
Balance sheet: Higher assets
In 2022, total assets reported by Canadian natural gas companies were $90.5 billion, up 2.5% compared with the previous year. Total current assets contributed to this growth with an increase of 23.0%, from $6.6 billion in 2021 to $8.1 billion in 2022. Total investments were also higher in 2022 at $14.0 billion, a 1.8% increase compared with the previous year.
For more information on energy in Canada, please see the "Energy: year in review 2022" section in the Daily release "Energy statistics, December 2022."
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.
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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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