May 3 (Reuters) - Pipeline operator TC Energy ( TRP )
beat first-quarter profit estimates on Friday, helped by robust
demand for liquefied natural gas (LNG).
Demand in the U.S., the largest importer of Canada's oil and
gas, rose in the first quarter according to the U.S. Energy
Information Administration, benefiting Canadian energy firms.
Total earnings from TC Energy's ( TRP ) pipeline segments came in at
C$2.27 billion ($1.66 billion), compared with C$2.17 billion
last year.
The United States was the world's top liquefied natural gas
(LNG) exporter last year, but in January, President Joe Biden
paused approvals for pending and future applications for export
projects.
Countries including Greece, Germany and Japan have expressed
interest in purchasing Canada's LNG at a time when the U.S. has
paused expansion of American LNG exports.
TC Energy ( TRP ) posted an adjusted profit of C$1.24 per share for
the quarter ended March 31, compared with analysts' average
estimate of C$1.14 per share, according to LSEG data.
($1 = 1.3663 Canadian dollars)
(Reporting by Seher Dareen and Vallari Srivastava in Bengaluru;
Editing by Devika Syamnath)