2023 Enbridge Day: ‘The First Choice for Energy Delivery’
Enbridge addressed the global energy trilemma at its 2023 investor community conference in Toronto. CEO Greg Ebel highlighted North America's energy resources and the company's extensive asset base, emphasizing Enbridge's position as a leader in energy delivery. Key announcements included the acquisition of the Tres Palacios natural gas storage facility for US$335 million and an investment of US$80 million in renewable natural gas from food waste. Additional plans involve building the Enbridge Houston Oil Terminal with an initial cost of US$240 million and significant investments in gas transmission modernization totaling $2.4 billion.
- Acquisition of Tres Palacios natural gas storage facility for US$335 million strengthens Gulf Coast strategy.
- Investment of US$80 million in Divert Inc. enhances renewable energy portfolio.
- Plans for the Enbridge Houston Oil Terminal with initial capital of US$240 million support growth.
- $2.4 billion allocated for gas transmission modernization and utility capital enhances operational efficiency.
- None.
NORTHAMPTON, MA / ACCESSWIRE / March 3, 2023 / Enbridge
Energy reliability. Energy sustainability. Energy affordability.
It's an "energy trilemma" facing the world today, and Enbridge is equipped to address it, our President and CEO Greg Ebel told an audience today in Toronto during our 2023 Enbridge Day investor community conference.
Mr. Ebel, and other members of our executive leadership, spoke of the North American energy advantage-which includes an abundance of conventional energy resources, and leading sustainability practices in bringing energy to market. They also addressed Enbridge's extensive asset base, cost competitive position and industry-leading safety record.
"We firmly believe that North America is at the forefront of balancing this trilemma, and Enbridge is helping to lead that rebalancing-and is perhaps one of the best-positioned companies to help ensure that this rebalancing occurs," said Mr. Ebel.
"Enbridge is connected to North American's most prolific oil and gas basins, and has a long track record of safely and reliably delivering energy from these basins to consumers of all kinds," he added. "This competitive advantage is one that cannot be replicated-and it's what makes us the first choice for energy delivery in North America and increasingly beyond."
Prior to today's market opening, Enbridge made a number of strategic growth and investment announcements:
- The acquisition of the Tres Palacios natural gas storage facility in Matagorda County, TX for US
$335 million , advancing our U.S. Gulf Coast strategy. - A US
$80 million investment (10% stake) in Divert Inc., a Massachusetts-based company focused on transforming food waste into renewable natural gas (RNG). - An upcoming open season on our Flanagan South liquids pipeline, and plans to build the Enbridge Houston Oil Terminal (EHOT) with an initial capital cost of US
$240 million . - Advancement on a 14-kilometre natural gas pipeline to support ArcelorMittal Dofasco's transition away from coal in Hamilton, ON, making it the largest GHG emissions reduction project in the province.
$2.4 billion in new gas transmission modernization and utility capital.
The 2023 Enbridge Day investor community conferences continues March 2 in Manhattan.
View additional multimedia and more ESG storytelling from Enbridge on 3blmedia.com.
Contact Info:
Spokesperson: Enbridge
Website: https://www.3blmedia.com/profiles/enbridge
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SOURCE: Enbridge
View source version on accesswire.com:
https://www.accesswire.com/741893/2023-Enbridge-Day-The-First-Choice-for-Energy-Delivery
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