How Enbridge Plans to Grow In the Age of Pipeline Opposition
12.16.2019 - NEWS

December 16, 2019 [Calgary Herald] – At a time when building new pipelines has become increasingly challenging, North America’s largest pipeline company is looking to low-risk, conservative projects for growth.

 
We’ve adapted to this environment… It’s not just about growth, we’re focused on expansion, extension and optimization of the existing base, which will be very capital efficient,” Enbridge Inc president and CEO Al Monaco said during the company’s investor day conference in New York.

Monaco said that Enbridge would take that low-risk approach for both new projects and for its balance sheet and finances. For example, Enbridge hiked its dividend 9.8 per cent but said it won’t commit to a share buyback program until the U.S. portion of its Line 3 pipeline replacement project is built.

Monaco described the company’s approach to shareholder payments as “returning capital in a sustainable way.

————-

Click Here to Access Today a 4,900 Tank Terminal Database With a Pro Trial
Click on the button and register to get instant access to actionable tank storage industry data