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TC

MEXICO - Energy & Mining

Jennifer Pierce

President, TC Energy, Mexico

Bio

Jennifer Pierce is President of TC Energía for TC Energy Corporation. She joined TC Energía as senior vice-president human resources in 2019. Previously, Pierce was an executive with TransAlta and held a series of progressively senior roles. Previously, she was director of investor relations for Nova Chemicals and vice-president, strategy, performance management, investor relations, and communications for Provident Energy Trust. She previously held leadership roles in communications, strategy, and planning at Duke Energy and Williams Gas Pipelines. Pierce has worked internationally with energy companies in Chile, Argentina, and Brazil. She began her career working in legislative affairs and public affairs at the Interstate Natural Gas Association of America (INGAA) in Washington, D.C. She has an MBA at Rice University, as well as a master’s degree in political administration from George Washington University and a BS in communication sciences from Boston University.

"It is an exciting time for energy in Mexico, given global events and the growing significance of North America."
TC Energy envisions participating in the growth of states in the Southeast via its pipelines to further spur economic growth and reduce regional disparities.
Why do you consider it to be an exciting time for the Mexican energy market?

It is an exciting time for energy in Mexico, given global events and the growing significance of North America. Amid global tensions, focusing inward becomes crucial. Mexico is uniquely positioned for economic growth, requiring various forms of energy, to attract industries and bridge regional disparities. As a company that provides energy solutions, we aim to assist Mexico’s Federal Commission of Electricity (CFE) in electrification and reducing their CO2 emissions by supplying natural gas that will enable them to convert power plants that currently use more carbon intensive fuels. With Mexico’s emphasis on new infrastructure, including renewables, there is a substantial opportunity for us to contribute to the country’s electrification in a cost-effective, reliable, and sustainable manner.

Is TC Energy also planning to engage directly with consumers, such as manufacturing plants?

We focus on the wholesale market, with CFE as our primary client. We also serve large industrial clients interested in partnering with us and CFE with a lateral or interconnect. For example, New Fortress Energy will be the first liquid natural gas (LNG) exporter from Mexico. In 2023, we performed the first interconnection into the Sur de Texas-Tuxpan pipeline to provide access to natural gas. Along with CFE, those are the type of clients that we will work with to provide more gas. We are seeing those opportunities across our service territory. Our collaboration aims to meet rising demand, particularly in critical regions. We are committed to supporting CFE’s efforts by providing the necessary natural gas infrastructure.

What potential opportunities exist in Mérida?

Yucatán’s governor aims to bring gas to Mérida to address shedding load and support industrial growth, facilitating exports to the US East Coast. There is significant potential not only for the Yucatán, but also for other Gulf coast states such as Tamaulipas, Veracruz, Tabasco, and Campeche. Our pipelines cover the northwest, central, and south regions, connecting growing areas such as Guadalajara, Manzanillo, and the Bajío. Completing pipelines in the southern states, as well as Hidalgo, Querétaro, Estado de México, and Guanajuato is crucial for nearshoring efforts, addressing electricity supply shortages in these regions. We are actively working on these projects, including the Puerta al Sureste pipeline.

The Puerta al Sureste project is estimated to be completed in 2025. What are TC Energy’s current focus areas and steps for the coming year in relation to this project?

We are focused on completing both the onshore and offshore components of our pipeline, covering over 695km. We have received strong support from local communities, state and federal governments, and regulators, recognizing the crucial need for gas to revitalize and expand areas like Coatzacoalcos and Paraíso, with the potential to interconnect into the Mayakan pipeline to feed the Yucatán peninsula. Governors understand the economic opportunities tied to critical infrastructure like trains, planes, highways, and pipelines.

What type of partners does TC Energy envision collaborating with?

We have a strong presence in Mexico, spanning major and rapidly growing markets over our 30-year tenure. Seeking long-term partners interested in Mexican market growth aligns with the increasing trend of industries relocating due to nearshoring. Diversification in supply chains could fuel growth for manufacturers in various Mexican regions. Encouragingly, states such as Querétaro, Guanajuato, and Puebla have attracted businesses, and we anticipate further growth in Veracruz, Tabasco, Campeche, Yucatán, and Oaxaca, strengthening the entire country. Importantly, to ensure a comprehensive understanding of Mexico’s potential, it is crucial to inform more people and investors in North America about the ongoing developments. Capital markets in major financial hubs should recognize the country’s progress, acknowledging the highly educated talent and proactive initiatives in education and workforce development. Emphasizing Mexico’s proactive approach in addressing challenges and integrating young talent into the primary economy reflects our visionary goals and collective purpose in contributing to the nation’s progress.

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