Latest news with #EnbridgeInc
Calgary Herald
13-06-2025
- Business
- Calgary Herald
No private company proposing to build an oil pipeline to tidewater? 'There will be soon', Smith says
Article content Alberta Premier Danielle Smith has an answer for British Columbia's premier and other critics who have asserted there's 'no proponent' and no concrete proposal currently on the table to build an oil pipeline to tidewater in Canada: 'There will be soon.' Article content 'We're working very hard on being able to get industry players, private-sector players, to realize this time might be different and to be able to come forward,' she told delegates attending the Global Energy Show Canada in Calgary on Wednesday. 'If I'm successful in doing that, then we'll get it on the project list and we'll work through the two-year approval process and we'll see if we can get somewhere.' Article content Article content Article content Smith said the aim is to get a new one-million-barrel-per-day crude pipeline to the Port of Prince Rupert on Prime Minister Mark Carney 's potential list of projects in the 'national interest.' Article content Article content The federal government has tabled Bill C-5, the so-called Building Canada Act, which sets out a streamlined federal regulatory process for major projects. Energy industry leaders and Western politicians say Carney and Minister of Energy Tim Hodgson have sent encouraging signals. Article content But despite renewed public and political interest in constructing a new pipeline to carry crude to Canada's coasts for export to non-United States markets, no private company has emerged to express an interest in pursuing such a project. Article content Midstream companies say they've faced overwhelming headwinds in trying to advance big projects in Canada in the past decade. Two west-to-east pipeline proposals, Enbridge Inc. 's Northern Gateway and TransCanada Corp.'s Energy East pipeline, were either cancelled or abandoned, and TC Energy Corp. also abandoned its Keystone XL pipeline project after twice being rejected by the U.S. government. Article content Article content But Smith laid out the case for why she thinks 'this time might be different' and why she believes a private proponent or a consortium of companies could be tempted back to the table: Article content Since the Northern Gateway pipeline to B.C.'s northern coast was rejected by the Justin Trudeau government in 2016, two key developments have emerged that could help answer concerns raised about the risk of a new pipeline exacerbating greenhouse gas emissions from the oilsands and inadequate engagement with Indigenous peoples, Smith said. Article content The Pathways Alliance, comprised of six major oilsands producers, pitched a large-scale carbon capture, utilization and storage (CCUS) network project in 2021, which, if built, would be the largest upstream carbon abatement project in the world, capturing up to 80 million tonnes of CO2 per year by 2050.
National Observer
11-06-2025
- Business
- National Observer
Alberta seeks private investor to help build oil pipeline to coast
The Alberta government is working to entice a private-sector player to build a major crude pipeline to coastal waters, Premier Danielle Smith said Wednesday. "We're talking to all of the pipeline proponents; anyone who has had success in building a pipeline in Canada and has an interest in perhaps coming together as a consortium. Or, if one emerges as being a principal proponent, then we'll be interested in talking to them, too," Smith told reporters following a speech to the Global Energy Show. "But we know that it's a chicken and egg problem, that no one's going to come forward with a project without some guarantee that it is going to be approved." Alberta could help the project along by committing barrels of physical bitumen received in lieu of cash royalties from oilsands producers, Smith said. She has been enthusiastic about reviving a plan to ship oilsands crude to the northern B.C. coast for export to Asia, and the end point she sees making the most sense is Prince Rupert, B.C. Enbridge Inc. had once planned to ship crude to another northern B.C. port, Kitimat, via its proposed Northern Gateway pipeline. That project was nixed in 2016 when the federal government banned tankers off the northern B.C. coast. Enbridge CEO Greg Ebel has said it would take a major overhaul in federal regulations for his company to revisit such a proposal. The Alberta government is working to entice a private-sector player to build a major crude pipeline to coastal waters, Premier Danielle Smith said Wednesday. Smith said Prince Rupert might be a more viable choice than Kitimat, as it has a less treacherous route out to the open Pacific and many other commodities already move out of there. Smith said no company will agree to build a pipeline to the northern B.C. coast as long as there is a tanker ban, and oilsands companies aren't going to expand their production as long as there's a federal emissions cap. The premier urged conference attendees to keep up the pressure on Prime Minister Mark Carney's government to do what needs to be done to get "nation-building" projects built. "Anything less than success means failing to act for Canada. It means failing to stand up for democracy and peaceful global development," she said. "And most importantly, it means a loss of economic prosperity that future Canadian youth and families cannot count on to enhance their standard of living locally and to eliminate energy poverty globally." With U.S. President Donald Trump's tariffs throwing the Canada-U.S. trade relationship into disarray, there have been growing calls for Canada to tap into other markets for its resources. The only way meaningful amounts of Canadian oil can currently flow to customers outside the United States is via the federally owned Trans Mountain pipeline to the B.C. Lower Mainland, whose expansion started up about a year ago. Trans Mountain CEO Mark Maki told reporters on the sidelines of the conference that his is among the companies Smith has talked to about spearheading a new pipeline. "But as far as us ... optimize the existing kit is the first priority," he said. The Trans Mountain pipeline has been running at about 85 per cent of its capacity of 890,000 barrels a day. That could be taken further to 1.14 million barrels a day with the help of drag-reducing chemical additives and additional pumping horsepower. Maki said Carney, a former central banker, strikes him as a decisive and detail-oriented leader who "gets it." "The business sort of wiring to him, I think is where a lot of my optimism comes from," he said. Carney recently met with provincial and territorial premiers to hear about what projects they'd like to see fast-tracked under new legislation, but has not said which have made the cut. Smith said she'll give the Liberals until the fall legislative session — or four to six months — to determine whether Carney is serious about his pledge to make Canada an "energy superpower." Smith is also keen on accessing global markets via the East Coast or a pipeline to the Port of Churchill in northern Manitoba, which would give tanker access to Hudson Bay. Smith heaped praise on Manitoba Premier Wab Kinew — a New Democrat of a much different political stripe than her United Conservative Party — for being open to that idea. "He has been very vocal in saying that he wants Churchill to be a major export hub, including oil and gas, and he's been unequivocal about that," Smith said. B.C. NDP Premier David Eby, on the other hand, has been skeptical about pursuing a Northern Gateway-like proposal while Trans Mountain, already in operation, is running under full capacity and has expansion potential.
Yahoo
30-05-2025
- Business
- Yahoo
Data Center & Natural Gas Link Grows: Will WMB, ENB, KMI Stocks Gain?
With the demand for data processing increasing due to the rapid expansion of artificial intelligence (AI) applications, data centers are facing unprecedented energy challenges. Natural gas is emerging as a pivotal solution in the power strategies of these facilities, offering the reliability, scalability and economic viability needed to support continuous and intensive data processing operations. Integrating natural gas with renewable energy sources allows data centers to balance sustainability goals with operational efficiency, positioning natural gas as a cornerstone of the future energy landscape for this sector. Analysts and investors have noted that leading natural gas and oil pipeline companies are already addressing the rising electricity demand driven by AI-powered data centers on their recent earnings calls. Major energy companies like The Williams Companies Inc. WMB, Enbridge Inc. ENB and Kinder Morgan Inc. KMI are well-positioned to benefit from this AI-driven trend. AI data centers have become significant electricity consumers due to several key factors. Firstly, deep learning and other AI workloads require immense computational power. High-performance processors, such as graphics processing units and tensor processing units, are essential to handle the billions of calculations needed for training large neural networks. This computational intensity drives up electricity usage substantially. Secondly, data storage systems, particularly those designed for high-speed access and redundancy, represent another major source of energy consumption. These storage systems are critical for rapidly retrieving and processing large datasets, but they also require substantial power to operate efficiently. Finally, the heat generated by high-performance processors necessitates robust cooling systems to maintain optimal operating temperatures and avoid hardware damage. These cooling systems, while essential, add another layer of electricity consumption, further contributing to the overall energy demands of AI data centers. As the adoption of AI data centers accelerates, the electricity demand is expected to grow substantially, putting considerable pressure on existing transmission grids. To accommodate this rising demand, utilities may be compelled to invest in new natural gas power plants, which would increase the need for midstream infrastructure, such as expanded pipeline networks, to ensure a reliable supply of natural gas to these facilities. This dynamic could create new opportunities for investment in both power generation assets and the associated midstream infrastructure needed to support this growing energy consumption. Three midstream energy majors that investors should keep an eye on are The Williams Companies, Enbridge and Kinder Morgan. All the stocks currently carry a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. WMB Expands Gas Network to Meet Data Center-Power Demand The Williams Companies is focused on the expansion of its natural gas infrastructure to meet heightened energy demand from data centers. The Transco Power Express Pipeline is among the key projects that will be designed to transport 950 million cubic feet of natural gas daily to Virginia, a state known for increasing electricity demand for rapidly growing data centers. Moreover, WMB is planning similar expansions in the Northwest and Mountain West, especially in places like Idaho and Salt Lake City, where demand for power from new data centers is increasing. Data Center Boom Powers KMI's Growing Project Backlog Kinder Morgan is experiencing a notable rise in natural gas demand, fueled by the expansion of data centers and AI applications. In the first quarter of 2025, KMI included $900 million in its project backlog, raising its total backlog to $8.8 billion. Of the total $900 million, KMI mentioned that more than 70% of this additional backlog is associated with meeting power demand, a proportion of which should be coming from the data centers. ENB's Strong Investment Opportunities to Power Data Center Enbridge expects strong growth opportunities from the rising demand for power from data centers. On the recent earnings call, ENB mentioned the identification of more than 35 individual projects or initiatives that will create demand for roughly 11 billion cubic feet per day of incremental natural gas. The company expects several billion dollars in capital investment opportunities for the projects through 2032. ENB, whose pipelines transport 20% of the total natural gas consumed in the United States, is expecting attractive returns from the initiatives. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Williams Companies, Inc. (The) (WMB) : Free Stock Analysis Report Enbridge Inc (ENB) : Free Stock Analysis Report Kinder Morgan, Inc. (KMI) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Cision Canada
28-05-2025
- Business
- Cision Canada
Enbridge Publishes 24th Annual Sustainability Report
CALGARY, AB, May 28, 2025 /CNW/ - Enbridge Inc. (Enbridge or the Company) (TSX: ENB) (NYSE: ENB) published today its 2024 Sustainability Report and Datasheet, which provides an overview of the Company's sustainable business strategy. "How well we perform as a safe operator of essential energy infrastructure, a steward of the environment and a responsible corporate citizen continues to be core to our mission to be North America's first-choice energy delivery company," said Pete Sheffield, Enbridge's Chief Sustainability Officer. "This year's Sustainability Report, our 24 th in as many years, provides an update to stakeholders on our progress, the work that remains and Enbridge's unwavering commitment to continuous improvement." Highlights from the 2024 Sustainability Report include: 40% improvement in greenhouse gas (GHG) emissions intensity from the Company's operations and 22% reduction in absolute GHG emissions from operations (both as compared against a 2018 baseline) 1, 2 23% reduction in work-related injuries and safety incidents among employees and contractors 3 Updated Task Force on Climate-related Financial Disclosures, including an assessment of scenarios, risks and opportunities across each of the Company's businesses Continued reporting on progress towards commitments made in the Company's Indigenous Reconciliation Action Plan Includes data from the completed acquisition of the U.S. natural gas utilities acquired throughout 2024 The Sustainability Report and Datasheet were developed with reference to the Global Reporting Initiative (GRI) Universal Standards and GRI 11 Oil and Gas Sector Standard and make use of the Sustainability Accounting Standards Board (SASB) standards for Oil & Gas Midstream and Gas Utilities & Distributors. Click to read the 2024 Sustainability Report and Datasheet. About Enbridge At Enbridge, we safely connect millions of people to the energy they rely on every day, fueling quality of life through our North American natural gas, oil and renewable power networks and our growing European offshore wind portfolio. We're investing in modern energy delivery infrastructure to sustain access to secure, affordable energy and building on more than a century of operating conventional energy infrastructure and two decades of experience in renewable power. We're advancing new technologies including hydrogen, renewable natural gas, carbon capture and storage. Headquartered in Calgary, Alberta, Enbridge's common shares trade under the symbol ENB on the Toronto (TSX) and New York (NYSE) stock exchanges. To learn more, visit us at ___________________________ 1 GHG emissions are from assets over which Enbridge has operational control (Scope 1 and Scope 2 emissions). Projected reductions of GHG emissions intensity and absolute emissions is relative to the 2018 baseline year. 2 This metric aggregates emissions and throughput for each business unit on the basis of tonnes of carbon dioxide equivalent per energy delivered in petajoules (PJ). 3 Excludes U.S. gas utilities employees and contractors.
Yahoo
27-05-2025
- Business
- Yahoo
Was Jim Cramer Right About Enbridge Inc. (ENB)?
We recently published a list of In this article, we are going to take a look at where Enbridge Inc. (NYSE:ENB) stands against other stocks that Jim Cramer discusses. A caller said he sold Dominion Energy and bought Enbridge Inc. (NYSE:ENB), asking whether he should hold and reinvest the dividend. Cramer affirmed: 'I like Enbridge. Continue to reinvest. I'm one of the few people that's liked Enbridge all the way down because I trust that management team.' Cramer's trust in management paid off with Enbridge gaining 23.90%. Enbridge Inc. (NYSE:ENB) operates North America's most extensive pipeline system and is expanding its renewable energy investments across wind and solar. A close-up of renewable energy turbines capturing the power of a windy sky. Cramer remains a big fan of the natural gas stock. Here's his analysis from May 13: 'What else? You know I'm a big fan of Enbridge, the Canadian pipeline colossus. Although their network also has lots of crude oil exposure, still, I think Enbridge belongs in any shortlist of natural gas plays because they operate the continent's largest natural gas utility by volume. These guys were always big in Canada, they run the main gas utility in Toronto. Overall, ENB ranks 5th on our list of stocks that Jim Cramer discusses. While we acknowledge the potential of ENB as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than ENB and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
