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Project(s): View 14 related projects in PECWeb
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Released February 14, 2022 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Like other big names in the North American Oil & Gas Industry, Enbridge Incorporated (NYSE:ENB) (Calgary, Alberta) is reaping the benefits of a recovery in fuel demand. The company finished or made significant strides on a slew of capital-spending projects throughout 2021, and is pressing forward with investments in renewables and low-carbon energy infrastructure, to reach its net-zero goal by 2050. Industrial Info is tracking more than $7.1 billion worth of active projects from Enbridge, nearly 25% of which are nearing or under construction.
"Looking forward to our three-year planning horizon, we expect to have $5 billion to $6 billion of annual investment capacity, of which $3 billion to $4 billion is prioritized to core utility-like investments," said Al Monaco, the chief executive officer of Enbridge, in remarks prepared ahead of the company's quarterly earnings-related conference call. "The remaining $2 billion will be deployed to the next best alternatives, including share repurchases."
Click on the image at right for a heat map of Enbridge's active projects, from Industrial Info's Geolocator tool.
Enbridge reported $5.8 billion in net earnings for full-year 2021, compared with $2.9 billion in 2020. The company noted in a press release accompanying the results that it had placed $10 billion worth of growth-related capital-spending projects into service during 2021, including the U.S. portion of its Line 3 Replacement Project, which contributed significantly to the increased profits and is expected to generate substantial cash flow growth in 2022 and beyond.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Oil & Gas Project Database can read detailed project reports on a series of crude oil pump stations for the Line 3 project and are set to be completed later this year, to be located:
Enbridge's RNG efforts include the Niagara Falls Renewable Energy development in Niagara Falls, Ontario, which is being built in collaboration with Walker Industries Holdings Limited (Niagara, Ontario) and Comcor Environmental Limited (Cambridge, Ontario). The partnership aims to transform landfill waste into carbon-neutral RNG, which will be injected into natural gas distribution networks across Canada. The project began site preparation in fourth-quarter 2020 and is expected to wrap up early next year. Subscribers can learn more from Industrial Info's project report.
Monaco also pointed to Enbridge's new hydrogen-blending facility in Markham, Ontario, "the first of its kind in North America," which began operations in the fourth quarter. The facility has the capacity to inject clean hydrogen into the local natural gas distribution network, and deliver the blended product to residents in Markham. Enbridge is wrapping up the construction of a 46-mile pipeline to carry up to 250 million standard cubic feet per day of natural gas through the area. Subscribers can learn more from Industrial Info's project report.
Enbridge's highest-profile acquisition last year was its $3 billion purchase of Moda Midstream Operating LLC, which included the Ingleside Energy Center in Ingleside, Texas, and related pipeline and logistics assets. The Ingleside Energy Center, one of the largest crude oil storage and export terminals in the U.S., loaded 25% of Gulf Coast crude exports last year, according to Enbridge. The company estimates the facility has more than $1 billion in embedded conventional and low-carbon organic growth potential, and it is considering another 2 million barrels of storage and a 60-megawatt (MW) solar facility to be located on site.
Industrial Info already is tracking the proposed addition of three crude oil storage tanks, as well as a proposed, 15-mile crude pipeline that would expand access to regional crude hubs. Subscribers can learn more from Industrial Info's reports on the storage tanks and pipeline.
Monaco also said Enbridge is building about 100 MW of solar self-power projects across its North American liquids and gas transmission systems. These include four solar farm additions at pump stations in Illinois and Wisconsin that will offset a portion of the electric load and reduce greenhouse gas emissions:
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.
"Looking forward to our three-year planning horizon, we expect to have $5 billion to $6 billion of annual investment capacity, of which $3 billion to $4 billion is prioritized to core utility-like investments," said Al Monaco, the chief executive officer of Enbridge, in remarks prepared ahead of the company's quarterly earnings-related conference call. "The remaining $2 billion will be deployed to the next best alternatives, including share repurchases."
Click on the image at right for a heat map of Enbridge's active projects, from Industrial Info's Geolocator tool.Enbridge reported $5.8 billion in net earnings for full-year 2021, compared with $2.9 billion in 2020. The company noted in a press release accompanying the results that it had placed $10 billion worth of growth-related capital-spending projects into service during 2021, including the U.S. portion of its Line 3 Replacement Project, which contributed significantly to the increased profits and is expected to generate substantial cash flow growth in 2022 and beyond.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Oil & Gas Project Database can read detailed project reports on a series of crude oil pump stations for the Line 3 project and are set to be completed later this year, to be located:
- in Joliette, North Dakota; see project report
- near Cromwell, Minnesota; see project report
- in Park Rapids, Minnesota; see project report
- in Backus, Minnesota; see project report
- in Swatara, Minnesota; see project report
- in Donaldson, Minnesota; see project report
Enbridge's RNG efforts include the Niagara Falls Renewable Energy development in Niagara Falls, Ontario, which is being built in collaboration with Walker Industries Holdings Limited (Niagara, Ontario) and Comcor Environmental Limited (Cambridge, Ontario). The partnership aims to transform landfill waste into carbon-neutral RNG, which will be injected into natural gas distribution networks across Canada. The project began site preparation in fourth-quarter 2020 and is expected to wrap up early next year. Subscribers can learn more from Industrial Info's project report.
Monaco also pointed to Enbridge's new hydrogen-blending facility in Markham, Ontario, "the first of its kind in North America," which began operations in the fourth quarter. The facility has the capacity to inject clean hydrogen into the local natural gas distribution network, and deliver the blended product to residents in Markham. Enbridge is wrapping up the construction of a 46-mile pipeline to carry up to 250 million standard cubic feet per day of natural gas through the area. Subscribers can learn more from Industrial Info's project report.
Enbridge's highest-profile acquisition last year was its $3 billion purchase of Moda Midstream Operating LLC, which included the Ingleside Energy Center in Ingleside, Texas, and related pipeline and logistics assets. The Ingleside Energy Center, one of the largest crude oil storage and export terminals in the U.S., loaded 25% of Gulf Coast crude exports last year, according to Enbridge. The company estimates the facility has more than $1 billion in embedded conventional and low-carbon organic growth potential, and it is considering another 2 million barrels of storage and a 60-megawatt (MW) solar facility to be located on site.
Industrial Info already is tracking the proposed addition of three crude oil storage tanks, as well as a proposed, 15-mile crude pipeline that would expand access to regional crude hubs. Subscribers can learn more from Industrial Info's reports on the storage tanks and pipeline.
Monaco also said Enbridge is building about 100 MW of solar self-power projects across its North American liquids and gas transmission systems. These include four solar farm additions at pump stations in Illinois and Wisconsin that will offset a portion of the electric load and reduce greenhouse gas emissions:
- a 10-MW addition at the Flanagan Crude Oil Pump Station in Pontiac, Illinois; see project report
- a 6.9-MW addition at the Adams Crude Oil Pump Station in Grand Marsh, Wisconsin; see project report
- an 8.8-MW addition at the Vesper Crude Oil Pump Station in Wisconsin Rapids, Wisconsin; see project report
- an 8-MW addition at the Portage Crude Oil Pump Station near Portage, Wisconsin; see 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.
