Enbridge Proceeds with Algonquin Gas Transmission Pipeline Project.

Enbridge Inc. has decided to proceed with the Algonquin gas transmission pipeline project. The project aims to transport natural gas from New England to Montreal. The pipeline will span approximately 300 kilometers and is expected to increase the supply of natural gas to the region. Enbridge is a Canadian energy transportation and distribution company that operates through various business segments, including liquids pipelines, gas transmission and midstream, and renewable power generation. The company owns several natural gas storage facilities, including the Aitken Creek Gas Storage facility.

Enbridge Inc. (TSX: ENB) (NYSE: ENB), a Canadian energy transportation and distribution company, has announced a final investment decision to proceed with the Algonquin gas transmission pipeline project. The project aims to transport natural gas from New England to Montreal, spanning approximately 300 kilometers. This development is part of Enbridge's strategy to meet growing natural gas demand in the region.

The Algonquin Gas Transmission pipeline project is designed to increase the supply of natural gas to the Northeast, potentially reducing winter price volatility for customers. Enbridge expects to invest US$0.3 billion in system upgrades within or adjacent to existing rights-of-way. The project is expected to deliver approximately 75 Mmcf/d of incremental natural gas under long-term contracts to investment-grade counterparties in the U.S. Northeast [1].

Enbridge's decision to proceed with the project aligns with its strategic priorities to support growing natural gas demand and enhance its position in key markets. The company's commitment to modern energy delivery infrastructure and sustainable practices is evident through this investment.

Enbridge's Algonquin Gas Transmission pipeline project is expected to be completed by 2029, subject to the timely receipt of required government and regulatory approvals. This project is part of Enbridge's broader portfolio, which includes natural gas storage facilities like the Aitken Creek Gas Storage facility.

Enbridge Inc. is a leading energy transportation and distribution company operating through various business segments, including liquids pipelines, gas transmission and midstream, and renewable power generation. The company's strategic investments in natural gas infrastructure reflect its commitment to meeting the evolving energy needs of its customers.

References:
[1] https://www.prnewswire.com/news-releases/enbridge-announces-two-gas-transmission-projects-as-it-continues-to-capitalize-on-growing-natural-gas-demand-302542353.html