Gas Processing & LNG is Produced by Gulf Publishing Holdings LLC



Enbridge eyes LNG opportunities as quarterly profits rise

(Reuters) - Enbridge Inc reported on Friday a rise in first-quarter profit, and outlined expansion plans as global demand for LNG surges in the wake of Russia's invasion of Ukraine.

Gazprom Amur Plant - Resized

 Europe is scrambling to replace gas from Russia and improve long-term energy security by becoming less reliant on supplies controlled by Moscow.

That has led to record U.S. LNG export volumes this year and renewed interest in expanding Canada's LNG industry beyond a lone Shell-led facility under construction in Kitimat, northern British Columbia.

"LNG exports are a big opportunity, with momentum building across the U.S. Gulf Coast, and now more so in western Canada," Enbridge Chief Executive Al Monaco told an earnings call.

Enbridge already supplies about 2 Bcfper day of gas to four LNG plants on the Gulf Coast. Monaco said the company has inked agreements to supply three more Gulf Coast projects that could add up to 7 bcf/d of gas and over $2 B in new investments.

In western Canada, Enbridge has launched an open season to gauge shipper demand for a C$1 B ($777.24 MM)expansion of the T-North section of its gas pipeline system in British Columbia to support growing production and west coast LNG demand.

The company is also targeting an open season on its T-south section later this year, providing the new Woodfibre LNG project in Squamish goes ahead as planned. Woodfibre, a subsidiary of Pacific Energy Ltd, issued a notice to proceed to its main contractor last month.

"With growing demand in Europe for U.S. LNG, western Canada can step in to fill it," Monaco added.

The company also said it would jointly develop a low-carbon hydrogen and ammonia production and export facility with energy portfolio company Humble Midstream, at its Ingleside Energy Center (EIEC) in Texas.

Increased demand for oil and gas boosted Calgary-based Enbridge's pipeline volumes in the first quarter. The company moves about 20% of all gas consumed in the United States and most of Canada's crude exports south of the border.

Adjusted earnings rose to C$1.7 B ($1.33 B), or 84 Canadian cents per share, in the three months to March 31, from C$1.63 billion, or 81 Canadian cents per share, a year earlier.

(Reporting by Rithika Krishna; Editing by Rashmi Aich and Richard Chang)


Copyright © 2019. All market data is provided by Barchart Solutions. Futures: at least a 10 minute delay. Information is provided 'as is' and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.

                                  CMEGroup                                     Icelogo

FEATURED COLUMNS

Editorial Comment
-Lee Nichols
The gas processing/LNG sector is investing in new technologies to mitigate carbon emissions from both operations and its supply chain.
Industry Focus: Maximizing the performance of your ETRM system
-Teresa Kroh, Brad York
Energy trading and risk management (ETRM) systems are vital for the support of business processes associated with trading energy commodities such as crude oil, refined products, natural gas, natural gas liquids (NGLs) and electric power, as well as facilitating the movement and delivery of those energy commodities and associated risk management activities.
Sustainability
-Oz Rodriguez, Catriona Penman
More than 100 participating countries at the 26th UN Climate Change Conference of the Parties (COP26) signed the Global Methane Pledge, in which they agreed to take action to reduce methane emissions at least 30% by 2030 vs. 2020 levels.


Optimizing Gas Distribution: Accounting for Changeovers, Regulators, and More

Register Now

Gas distribution systems are critical to the effective operation of many industrial facilities around the world. Despite the importance of these systems, however, opportunities to improve their performance and cost-effectiveness are often missed or misunderstood. Increasing changeover pressure may seem like a good way to improve system flow, for example, but it often does so at the expense of bottled gas. Adding regulators may help you control supply pressure, but it also adds cost to your system. So, how do you know what the ideal gas distribution setup is for you?

Attend this webinar to:

  • Gain a basic understanding of the fluid dynamics that affect pressure control in gas distribution systems, learning to interpret flow curves and recognize phenomena like lockup, droop, and supply pressure effect (SPE)
  • Learn how inlet pressure affects regulator performance and when to specify certain regulator types and configurations to effectively control gas system pressures

Understand the inherent trade-offs between gas utilization and flow capacity and how to select both the right changeover pressure and automatic changeover panel design for your operations.

May 4, 2021 10:00 AM CDT

Register Now

 

Please read our Term and Conditions, Cookies Policy, and Privacy Policy before using the site. All material subject to strictly enforced copyright laws.
© 2022 Gulf Publishing Holdings LLC.