Enbridge Inc (TSX:ENB) News and Share PriceOil & Gas
Enbridge Inc is a North American oil and gas company, which owns and operates a network of liquids pipelines, gas storage systems, etc.
The company operates through oil and liquids transportation system of 17,125 miles across North America and transports nearly 20 per cent crude oil to key markets.
The firm claims that it contributes to nearly 40 per cent of total US crude oil imports.
The company operates through its offices in Edmonton, Toronto, Duluth, MN, Superior, Houston, etc.
Enbridge’s natural gas transmission and midstream network cover nearly 23,850 miles across United States, Canada and the Gulf of Mexico.
Enbridge operates through four core segments:
• gas distribution and storage
• natural gas pipelines
• renewable energy
• liquid pipelines
Liquid pipelines unit
The segment mainly focuses on carriers, pipelines, and terminals that facilitate the transportation of crude oil and other refined products in Canada and the United States. In addition, the pipeline system includes Canadian Mainline, Lakehead System, Regional Oil Sand systems, Southern Lights pipelines, Spearhead Pipelines, Seaway Pipeline, feeder pipelines and others. The active crude pipeline system includes 8,622 miles in the United States and 8500 miles in Canada.
Enbridge Gas Inc, owned by Enbridge Inc, provides natural gas utility services to industrial, commercial, and residential customers. It majorly distributes natural gas in central and eastern Ontario, Quebec, New Brunswick.
Transmission and midstream unit
The segment consists of major pipeline networks that transport natural gas to nearly 30 US states, five provinces in Canada, and offshore in the Gulf of Mexico.
The segment owns a diversified portfolio of renewable energy projects, including 23 wind farms, seven solar energy, one geothermal project and a hydroelectricity facility.
The energy services segment provides logistical services, oversees refinery supply services and undertakes physical commodity marketing activity. In addition, it also manages volume commitments on the pipeline systems, including Alliance Pipline, Vector and others.
The Calgary-based firm was incorporated as Interprovincial Pipe Line Company on April 30, 1949.
In 1998, the company was renamed as Enbridge Inc.
Enbridge reportedly transports around 16.2 billion cubic feet per day (bcf/d) of natural gas through its natural gas transmission and storage network.
Enbridge Inc is listed on the Toronto Stock Exchange and New York Stock Exchange and trades under the ticker 'ENB'.
In addition, Enbridge is also among S&P/TSX 60 component.
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