Reports related to this article:
Project(s): View 10 related projects in PECWeb
Plant(s): View 8 related plants in PECWeb
en
Researched by Industrial Info Resources (Sugar Land, Texas)--Enbridge Incorporated (NYSE:ENB) (Calgary, Alberta) is looking at US$22 billion in capital spending through 2020, after it brought US$12 billion of new assets into service in 2017. The company also is preparing to sell some of its less essential properties as it faces a hangover-like debt, partly due to an acquisition last year that made it North America's largest energy infrastructure company. Industrial Info is tracking nearly US$25 billion in active projects involving Enbridge, including more than US $15.6 billion worth that are set to begin or finish construction in 2018.
Enbridge transported a record 2.6 million barrels per day (BBL/d) of crude oil on its mainline system, up from 2.5 million BBL/d in 2016. Enbridge is targeting C$3 billion (US$2.39 billion) in non-core asset sales in 2018 and has identified C$10 billion (US$7.97 billion) in non-core assets to divest over time; Al Monaco, the chief executive officer of Enbridge, said during an earnings-related conference call that potential buyers have shown strong interest in Enbridge's renewable, gathering and processing assets.
Investors and rating agencies have been pressuring Enbridge to reduce its long-term debt, now estimated at C$61.4 billion (US$41.91 billion), much of which was accumulated following last year's US$28 billion merger with Spectra Energy Corporation. Enbridge also took a C$4.5 billion (US$3.59 billion) charge in fourth-quarter 2017 to write down assets in its gas transmission and midstream business.
Enbridge has started construction on one its largest projects: the US$1.5 billion NEXUS gas pipeline in Ohio and Michigan, which is expected to go into service in third-quarter 2018 and to be fully completed in first-quarter 2019. The 250-mile line is expected to deliver 1.5 billion cubic feet per day (Bcf/d) of clean-burning natural gas from receipt points in eastern Ohio to existing pipeline system interconnects in southeastern Michigan. Industrial Info is tracking the US$450 million Ohio portion, which runs 200 miles from the Utica Shale in the state's northeastern area to the border near Highland, Michigan, and the US$125 million Michigan portion, which runs 50 miles to an area between Detroit and Ann Arbor.
Industrial Info also is tracking the ongoing construction of four compressor stations along the Ohio portion of NEXUS: the US$55 million station in Hanoverton, the US$55 million station in Clyde, the US$45 million station in Waterville and the US$45 million station in Wadsworth. The Hanoverton station will feature a pair of turbine-driven compressor gas packages, while the other three stations will feature one each. For more information, see Industrial Info's project reports on the Ohio line, Michigan line, Hanoverton station, Clyde station, Waterville station and Wadsworth station.
Enbridge also is at work on the Atlantic Bridge Pipeline Project, an expansion of the Algonquin Gas Transmission and Maritimes & Northeast pipeline systems that is designed to supply natural gas throughout the New England states. Three compressor station projects are under construction and set to be completed in the first half of 2018: a US$30 million unit addition in Oxford, Connecticut, a US$30 million unit addition in Chaplin, Connecticut, and a US$30 million station in North Weymouth, Massachusetts. Each project involves installing a turbine-driven compressor gas package to support the transportation of up to 153 million standard cubic feet per day of natural gas. For more information, see Industrial Info's project reports on the Oxford, Chaplin and North Weymouth projects.
In Canada, Enbridge is preparing to begin construction on the US$190 million Line 10 Crude Oil Pipeline Replacement in southern Ontario. Enbridge plans to replace a 12-inch-diameter, 22-mile section of Line 10, running from Flamborough to and Binbrook, Ontario, and replace it with 20-inch-diameter line with four main line valves. For more information, see Industrial Info's project report.
Enbridge reported earnings of $2.5 billion for 2017, up from $1.78 billion in 2016.
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/.
Enbridge transported a record 2.6 million barrels per day (BBL/d) of crude oil on its mainline system, up from 2.5 million BBL/d in 2016. Enbridge is targeting C$3 billion (US$2.39 billion) in non-core asset sales in 2018 and has identified C$10 billion (US$7.97 billion) in non-core assets to divest over time; Al Monaco, the chief executive officer of Enbridge, said during an earnings-related conference call that potential buyers have shown strong interest in Enbridge's renewable, gathering and processing assets.
Investors and rating agencies have been pressuring Enbridge to reduce its long-term debt, now estimated at C$61.4 billion (US$41.91 billion), much of which was accumulated following last year's US$28 billion merger with Spectra Energy Corporation. Enbridge also took a C$4.5 billion (US$3.59 billion) charge in fourth-quarter 2017 to write down assets in its gas transmission and midstream business.
Enbridge has started construction on one its largest projects: the US$1.5 billion NEXUS gas pipeline in Ohio and Michigan, which is expected to go into service in third-quarter 2018 and to be fully completed in first-quarter 2019. The 250-mile line is expected to deliver 1.5 billion cubic feet per day (Bcf/d) of clean-burning natural gas from receipt points in eastern Ohio to existing pipeline system interconnects in southeastern Michigan. Industrial Info is tracking the US$450 million Ohio portion, which runs 200 miles from the Utica Shale in the state's northeastern area to the border near Highland, Michigan, and the US$125 million Michigan portion, which runs 50 miles to an area between Detroit and Ann Arbor.
Industrial Info also is tracking the ongoing construction of four compressor stations along the Ohio portion of NEXUS: the US$55 million station in Hanoverton, the US$55 million station in Clyde, the US$45 million station in Waterville and the US$45 million station in Wadsworth. The Hanoverton station will feature a pair of turbine-driven compressor gas packages, while the other three stations will feature one each. For more information, see Industrial Info's project reports on the Ohio line, Michigan line, Hanoverton station, Clyde station, Waterville station and Wadsworth station.
Enbridge also is at work on the Atlantic Bridge Pipeline Project, an expansion of the Algonquin Gas Transmission and Maritimes & Northeast pipeline systems that is designed to supply natural gas throughout the New England states. Three compressor station projects are under construction and set to be completed in the first half of 2018: a US$30 million unit addition in Oxford, Connecticut, a US$30 million unit addition in Chaplin, Connecticut, and a US$30 million station in North Weymouth, Massachusetts. Each project involves installing a turbine-driven compressor gas package to support the transportation of up to 153 million standard cubic feet per day of natural gas. For more information, see Industrial Info's project reports on the Oxford, Chaplin and North Weymouth projects.
In Canada, Enbridge is preparing to begin construction on the US$190 million Line 10 Crude Oil Pipeline Replacement in southern Ontario. Enbridge plans to replace a 12-inch-diameter, 22-mile section of Line 10, running from Flamborough to and Binbrook, Ontario, and replace it with 20-inch-diameter line with four main line valves. For more information, see Industrial Info's project report.
Enbridge reported earnings of $2.5 billion for 2017, up from $1.78 billion in 2016.
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/.
