Enbridge Readies to Add LNG, Oil Pipeline Capacity in 2023

February 13, 2023--Researched by Industrial Info Resources (Sugar Land, Texas)--Higher capital costs took a big bite out of Enbridge Incorporated's (NYSE:ENB) (Calgary, Alberta) bottom line in 2022, and executives expect those costs will stick around in 2023. But the company expects about $4 billion of conventional and renewable projects that were placed into service during 2022 will yield strong contributions for the coming year.

Industrial Info is tracking about US$10 billion worth of active projects from Enbridge. Among Enbridge's most significant achievements in the past quarter was the completion of its agreement with Pacific Energy Corporation Limited to invest US$1.5 billion in the Woodfibre LNG development in British Columbia. Last month, Enbridge acquired an additional 10% ownership in the Gray Oak Pipeline in Texas.

Other companies featured: BP plc (NYSE:BP), Diamondback Energy (NASDAQ:FANG), Phillips 66 (NYSE:PSX) and NextDecade Corporation (NASDAQ:NEXT).