Reports related to this article:
Project(s): View 5 related projects in PECWeb
Plant(s): View 5 related plants in PECWeb
en
Researched by Industrial Info Resources (Sugar Land, Texas)--Energy pipeline company Enbridge Incorporated (NYSE:ENB) (Calgary, Canada) continues to reach into U.S. Gulf Coast liquefied natural gas (LNG) and oil markets. The company is intent on executing its secured capital program, which calls for more than C$11 billion (US$8.3 billion) in project expenditures through 2022.
Industrial Info is tracking 136 Enbridge projects across Canada and the U.S.
Click here for a graph showing Enbridge project activity by North American market region.
As part of its U.S. Gulf Coast strategy, Enbridge said on February 13 it reached an agreement with NextDecade Corporation (NASDAQ: NEXT) (Houston, Texas) to acquire the 137-mile Rio Bravo Pipeline project, which would move up to 4.5 billion cubic feet per day of natural gas from the Agua Dulce area in West Texas to Next Decade's planned Rio Grande LNG production and export terminal at the Port of Brownsville in Texas.
In February, the U.S. Federal Energy Regulatory Commission (FERC) authorized the proposed Rio Grande facility to export LNG to countries that do not have a free trade agreement with the U.S. The facility, along with other planned Texas Gulf Coast LNG terminals, is opposed by local environmental groups.
For more information, see Industrial Info's project reports on the Rio Bravo Pipeline and the Rio Grande LNG terminal.
Enbridge said it also has agreed to expand its Valley Crossing pipeline system to supply the proposed Annova LNG facility in the Port of Brownsville over a 20-year period. The expansion is subject to a positive final investment decision being reached for the 6.5 million-ton-per-year facility. Annova LNG is majority owned by Exelon Corporation (NASDAQ:EXC) (Chicago, Illinois). For more information, see Industrial Info's project report.
On the crude oil front, Enbridge Chief Executive Officer Al Monaco said in the company's earnings release that Enbridge is "advancing our liquids strategy to extend our integrated value chain from Western Canada down to the U.S. Gulf Coast."
"We think the Gulf will be the epicenter of how North America will prosecute its global energy advantage, which is hinged on ultra-low-cost supply in feeding global energy demand," Monaco said during Enbridge's earnings conference call with industry analysts. "Gulf Coast refiners are the most competitive in the world and (...) process roughly four and half million barrels per day of heavy and medium sour. But a third of the heavies are actually supplied by Canada, and we see that (amount) rising to 50%, given the Mexican and Venezuelan declines."
The company also secured an option with Enterprise Products Partners LP (NYSE:EPD) (Houston, Texas) to purchase an ownership interest in a proposed offshore oil terminal that can service very large crude carriers (VLCCs), those capable of transporting 2 million barrels of oil. The Sea Port Oil Terminal (SPOT) would be located in the Gulf of Mexico, about 30 miles south of Brazoria County in Texas. For more information, see Industrial Info's project report. For related information, see January 31, 2020, article - Enterprise Products Thrives with $7.7 Billion of Major Capital Projects Under Construction.
Enbridge finished 2019 with adjusted earnings of C$5.34 billion (US$4 billion), compared with C$4.57 billion (US$3.45 billion) in 2018.
During 2019, the company placed C$9 billion (US$6.8 billion) of new projects into service, including C$7 billion (US$5.28 billion) worth in just the fourth quarter, Enbridge said in its fourth-quarter 2019 earnings release. These included a US$700 million investment in the Gray Oak Pipeline and the Canadian segment of the Line 3 Replacement project.
The 900,000-barrel-per-day (BBL/d) Gray Oak Pipeline stretches from the Permian Basin and Eagle Ford to the Texas Gulf Coast. Enbridge holds a 26.25% stake in the pipeline, which is operated by Phillips 66 (NYSE:PSX) (Houston, Texas). For more information, see Industrial Info's project report. For related information, see February 3, 2020, article - Phillips 66 Expands Midstream Footprint with Pipeline, Fractionation, Terminals Projects.
The C$5 billion (US$3.77 billion) Canadian segment of the Line 3 Replacement program was placed into service on December 1. The entire 1,200-mile Line 3 crude oil pipeline replacement program would replace pipeline from Hardisty, Alberta, to Superior, Wisconsin.
The U.S. section of the pipeline continues to face regulatory and permitting issues. In Minnesota, the Department of Commerce issued a final environmental impact statement on the project on December 9 and the Minnesota Public Utilities Commission gathered public comment through January 16, Enbridge said. For more information, see Industrial Info's project report.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
Click here for a graph showing Enbridge project activity by North American market region.
As part of its U.S. Gulf Coast strategy, Enbridge said on February 13 it reached an agreement with NextDecade Corporation (NASDAQ: NEXT) (Houston, Texas) to acquire the 137-mile Rio Bravo Pipeline project, which would move up to 4.5 billion cubic feet per day of natural gas from the Agua Dulce area in West Texas to Next Decade's planned Rio Grande LNG production and export terminal at the Port of Brownsville in Texas.
In February, the U.S. Federal Energy Regulatory Commission (FERC) authorized the proposed Rio Grande facility to export LNG to countries that do not have a free trade agreement with the U.S. The facility, along with other planned Texas Gulf Coast LNG terminals, is opposed by local environmental groups.
For more information, see Industrial Info's project reports on the Rio Bravo Pipeline and the Rio Grande LNG terminal.
Enbridge said it also has agreed to expand its Valley Crossing pipeline system to supply the proposed Annova LNG facility in the Port of Brownsville over a 20-year period. The expansion is subject to a positive final investment decision being reached for the 6.5 million-ton-per-year facility. Annova LNG is majority owned by Exelon Corporation (NASDAQ:EXC) (Chicago, Illinois). For more information, see Industrial Info's project report.
On the crude oil front, Enbridge Chief Executive Officer Al Monaco said in the company's earnings release that Enbridge is "advancing our liquids strategy to extend our integrated value chain from Western Canada down to the U.S. Gulf Coast."
"We think the Gulf will be the epicenter of how North America will prosecute its global energy advantage, which is hinged on ultra-low-cost supply in feeding global energy demand," Monaco said during Enbridge's earnings conference call with industry analysts. "Gulf Coast refiners are the most competitive in the world and (...) process roughly four and half million barrels per day of heavy and medium sour. But a third of the heavies are actually supplied by Canada, and we see that (amount) rising to 50%, given the Mexican and Venezuelan declines."
The company also secured an option with Enterprise Products Partners LP (NYSE:EPD) (Houston, Texas) to purchase an ownership interest in a proposed offshore oil terminal that can service very large crude carriers (VLCCs), those capable of transporting 2 million barrels of oil. The Sea Port Oil Terminal (SPOT) would be located in the Gulf of Mexico, about 30 miles south of Brazoria County in Texas. For more information, see Industrial Info's project report. For related information, see January 31, 2020, article - Enterprise Products Thrives with $7.7 Billion of Major Capital Projects Under Construction.
Enbridge finished 2019 with adjusted earnings of C$5.34 billion (US$4 billion), compared with C$4.57 billion (US$3.45 billion) in 2018.
During 2019, the company placed C$9 billion (US$6.8 billion) of new projects into service, including C$7 billion (US$5.28 billion) worth in just the fourth quarter, Enbridge said in its fourth-quarter 2019 earnings release. These included a US$700 million investment in the Gray Oak Pipeline and the Canadian segment of the Line 3 Replacement project.
The 900,000-barrel-per-day (BBL/d) Gray Oak Pipeline stretches from the Permian Basin and Eagle Ford to the Texas Gulf Coast. Enbridge holds a 26.25% stake in the pipeline, which is operated by Phillips 66 (NYSE:PSX) (Houston, Texas). For more information, see Industrial Info's project report. For related information, see February 3, 2020, article - Phillips 66 Expands Midstream Footprint with Pipeline, Fractionation, Terminals Projects.
The C$5 billion (US$3.77 billion) Canadian segment of the Line 3 Replacement program was placed into service on December 1. The entire 1,200-mile Line 3 crude oil pipeline replacement program would replace pipeline from Hardisty, Alberta, to Superior, Wisconsin.
The U.S. section of the pipeline continues to face regulatory and permitting issues. In Minnesota, the Department of Commerce issued a final environmental impact statement on the project on December 9 and the Minnesota Public Utilities Commission gathered public comment through January 16, Enbridge said. For more information, see Industrial Info's project report.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
