The 6 Biggest Canadian Natural Gas Companies

According to the U.S. Energy Information Administration, Canada was home to the world's fifth-largest energy production industry in 2019 (latest information). Globally, it is the fourth-largest producer and sixth-largest exporter of natural gas.

Private and public companies of all sizes engage in natural gas production across the Canadian landscape; however, only a small group of firms deliver an average output of more than 300 million cubic feet per day. While some of these firms are integrated oil and gas companies with extensive operations in upstream and downstream industries, others focus on upstream exploration and production.

In 2020, many of the companies that make up Canada's oil and gas industry saw revenues in the billions. Below are some of the largest companies in Canada whose business involves natural gas. Investors looking to gain exposure to the Canadian energy market could consider some of the large corporations below as a way to diversify their portfolio.

Of course, like all energy companies, these entities are subject to price volatility in the energy market, global supply and demand risk, changing political regulations in the countries where their basins are located, and geological risks. These are all items to consider before making an investment decision.

1. Enbridge, Inc. (ENB)

Enbridge (ENB) is an oil and gas infrastructure company focused on the transportation of crude oil and hydrocarbons through pipelines. The company also focuses on renewable energy. It is one of the largest companies in Canada, with high revenues and a market capitalization of $72.9 billion as of Oct. 14, 2022.

2. Fortis, Inc. (FTS)

Fortis, Inc. is another oil and gas company. It has 93% of its assets invested in infrastructure, and operates across 17 jurisdictions. It has 11 subsidiaries across Canada, and emphasizes its commitment to sustainable energy. Fortis serves about 3.4 million customers, has about $60 billion in assets and a market cap of $17.3 billion.

3. ATCO Gas And Pipelines Ltd (ACO.X)

Trading on the Toronto Stock Exchange under the ticker ACO.X, ATCO is a natural gas and electricity-generating company with a claim of operating in more than 100 countries worldwide in its history. It has about $22 billion in assets market cap of $4.6 billion. In addition to supplying natural gas and electricity, ATCO provides essential services in logistics, utilities, workforce and residential housing, energy infrastructure, and much more.

4. Superior Plus Corp. (SPB)

Superior Plus operates in Canada and the U.S., serving more than 890,000 customers. It is a propane and propane products distributor with a market cap of $2.01 billion and revenues of $410 million.

Superior Plus trades on the Toronto Stock Exchange and on the over the counter (OTC) market in the U.S. under the ticker SUUIF.

5. Algonquin Power & Utility Corp. (AQN)

Algonquin Power & Utility Corps provides natural gas and water. to more than 700,000 customers. It also connects more than 300,000 customers to wind, solar, and hydroelectric generation facilities.

Algonquin is traded on the New York Stock Exchange and has a market cap of $7.05 billion and posted $1.08 billion in revenues for 2021.

6. TransAlta Corp. (TAC)

TransAlta is a natural gas and power generation company that operates in Canada, the U.S., and Australia. It is focused on providing renewable and clean energy, and in 2022 entered a deal with Meta Platforms (formerly Facebook) to provide power to help the company reach its clean energy goals.

The company has a market cap of $2.12 billion, and posted $2.7 billion in revenues in 2021. Its shares are traded on the New York Stock Exchange and Toronto Stock Exchange (ticker TA).