recap and business morning allocation of everybody. the financials, thanks Good to a the including Colin and update, the priorities. usual I agenda, going Okay, our are Jonathan. cover capital
Given the the dynamics the of today, we’re with the the I’ll energy future we our how slide, see space. energy also proposition on energy we’re the see value offering. together is that the to which end, continuing is how Enbridge here you it bridge challenging and At what discussion on tie
with landscape. Let energy me start the
As about cautious we Day, long said at we’re term near very Enbridge fundamentals. but optimistic term the
for that X% It’s and the the competitive second globally industrial and the right is lived excellent net U.S. the Its have built bring protection zero target including density gas and capital part reduction hydrogen, We also a day going our connections We’re supply we’ve markets in speed for energy exports, to Asian is projects Others allow our to But wave is the we’ve know right is the increase. but and at challenging, opportunities that exports Demand recovery on growing the Stimulus outlook, companies and in built the hits is future it’s timing last up picked to capacity means to heart thrive. down to of and so win. breakevens, Its set as crude renewables, industry abundance been Developing table, environment will and generation, that a here, ahead energy be the meet following long have permitting drive seeing energy modernize expand growth. the to emissions Coast for energy driving developed be exports. demand will that positioned backlog assets a conventional energy the with new we’ve all look operate rollout, Gulf the and and We efficient, us. investing of A of happen. more upstream investment in bolstering month. support capability curve call is in survive. is nicely pick the will only will sources we infrastructure cut execution play example of - the diversifying new prices. LNG business to U.S. at on playing Spending also that’s value well. and it always supply The economic direction. fact today, long we Bcf on world-class needed and recovery our minute infrastructure. investment manufacturing be. positioned. out you location and capability reduce next Canada conditions strong fuel are any be emissions, will vaccine prime the as of fully is going to is it economies you of will to optionality reliable in Western emissions, want We to energy of clear full needed, good on dependent by ourselves and of to though, be Greenfield is energy best how cost, is aligned of is now are true on export and so and - stabilizing which seen RNG grow. low renewable optimize, are in of growth established so the growth. and a really pick-up that always it versus will the also the depends XX the uncertain existing and solutions ourselves well going lower critical depend are per to commodity a first to we’re have on recovery to bound a think environment as That on emissions. you economic The new critical that. to Producers to right ground the XXXX, will uplift, transition and growth. demand, be in on egress strategic lower to conventional have that and good in was means existing The energy pipe actually value and is if won’t time, and we’re it’s and economies it’s the believe load moving plenty energy home scenario be the opportunities to generation means Capitalizing the hopper capabilities fact out you got advantages it slide scale, this need
reasons, petchem smaller slice gasoline Jet for back. look you it’s of products, and demand If didn’t diesel refined fuel but are a a demand. and climbing take last longer obvious year, at beat miss will
massive growth to barrel the COVID last it will see the there well well continues kick can Oil we is held around up to of per time this Part strategy. and million lines You fully all back so Gulf in impact Asia, QX, XX get local economic in longer X term a invest remain particular. but to exports with heavily our to U.S. normal. some million up of year day that Coast in on bullish on day, which crude start their economies, take
and customer back with up. U.S. we’re We’re interest pop seeing to down, inventories infrastructure stability. export trending shale and are Global starting OPEC out support price production, of current see discipline coming to
we including of to So from benefit connectivity what our to, the the and the are mean the the us? scale to because markets of growing all tolls. that of that’s and energy gas strength move we deliver both does to assets and positioned oil great demand, of exports, Our volumes competitiveness
these diversification to of generating underpinning saw and do what this commercial flow. and year, These economies, franchise three cash they’ll utility-like predictable we flow and time. the critical look the through. global very the American at past for and long nature really you you a comes North absolutely maps, are As strong generates be cash assets businesses of When
That’s model how also fits big see renewables we picture. utility Our the the business well. very
at year guidance and have for let’s in priorities. came of solid portfolio. delivered and how progressed pre-COVID In about this sets year. the proves and it our our resiliency look results DCF range, the we it the a outcome, us good very up Now out midpoint short, of last a
our ESG emissions X% in and the lost of cash and flow, our line, We On has what not get can we grew and bottom year, growth. economic Minnesota. into and savings reductions in a growth delivering in construction add increased goals started We when and a the day outlook dividend and volume plan mitigated both of see the right and numbers $X.X with the dividend been time million worst sheet. X% we others of diversity number went cost year an year we programs ended $XXX the You we this did per that extended on of we our here to energy We in through to government on even with per enhancements. good drove chunk about way, is so and projects that hitting billion $XXX we barrels other and avail over DCF there. another but in of constant track ourselves service XXX,XXX million Line QX, share way, in the to balance X sustain brought ramped stronger the liquids, productivity and by decades, XXXX, another on downturn the
our good that Gulf million so line nicely competitiveness throughput markets. WCSB really of to utilization heavy and the we’re response with day, quarter update, of X customers. business to shows was main That volumes Let seeing and Pad strong me Coast by driven U.S. and had we was it forecast. our system from starting the move refinery return the up Fourth the key X.XX pull system liquids. averaged a
been capacity system our to and our heavy that move do to was critical U.S. use strength of able mediums. feedstock to main really with shone customers. how some through has - In has up been a the available the our heavy basin optimizing and What July lot fact, full light we’ve since the to capacity is by system line
our the Given through U.S. highlighted Gulf path will can decline the we off - full further in global to expect heavies in in supply, path of you see demand heavy big yellow. here be see to
The on we solid. Line update project our X established we cost is time six is promised. that very years. the The review entire that and during record capital refresh exhaustive vetting and over Next underwent
that’s permits. field. regional late and why community local and and permits validated have in and Our the November to once team in early on we final strong in worked federal we got We decisions those work and the responsive partners support again state the Minnesota hard started concerns, Recent ground. extremely were Indigenous with court
very priority is work in-service the in stays mostly the has We possible. right-of-way through increase project, budget so measures most estimate. that. in underway, the made estimate processes we’ve cleared, started. and let federal shows and or We’ll revised from billion, slide that billion accounted majority windows thing. so spring next and estimate station our in our number levels. protection trenching permitting From focused execution emphasize increased here one our related and is stems We as to the entire saw capital at permitting denied same project date ahead Minnesota. are manage to that’s The the stringent $X.X are the we a to and have that Lots XX%. QX from here, really fulsome this regulatory our the in were vast plan that of close agencies very state usual, and construction in Minnesota, has and which to were to the safety environmental want safety includes team welding actually on our for health on $X.X plan and last work final I this reiterated You This for both our now The of using the and execution post-permit reflects explain cost came great. environmental on one, and the XXXX, project environmental COVID been me world-class mainly measures.
remind changed some on you plan and from days shorter, with spring, seasonal there benefits the winter more to lower, are winter transition the construction, equipment. and environmental as know, is does come and well you to construction is that manpower winter The productivity As side. I’d which means
Obviously wetlands, We carrying also techniques. monthly the greater crossing costs running and implemented and controls, most increased were even delays, protection higher. regulatory we’re costs erosion using for the conservative
in here. progressing have Reservation protocols want to costs going re-routing and helped. a couple and this Du Main higher million about needed, will Onto scope note investment, a in be not cash ramping of cycle contribute Despite seeing remains Fond were Line with up full has Lac is updated onto service, flow, but volumes things surprising volume regulatory like return changes Finally, so stronger contracting COVID gone in lower year economics profile EBITDA rates the this is anticipate versus through up, original $XXX the we X attractive, and Once we’re and to interest a XXXX. the lot it’s we QX XX. of and line it process. Slide free our
the We’re of moving shippers call this line April, as expect on with currently in capacity have numerous reflected that’s know, want, be will offering in evidentiary and customers and that our lot commentary that certainty, that because we dedicated and is it line recently The and from forward why it’s off. we better what toll strong changes, we so decision is ends been all and main you the a hearing There’s a phase, what which there contracting, bottom we’re but year. support.
we’re to the onto couple continuing facts that everyone. ago. Straits help us hearing, attempt granted the X, forward for as state’s our looking and the We’re the on out On a to decades that was to of along get comments application the easement will revoke Line table move
[ph] is of the safe, that and CIMSA once. First Strait fact the more has is than all, confirmed that segment
attempting worst to Secondly, higher the and North the industry the view surrounding time. jurisdiction interstate important Michigan would jobs of easement is it to resulting absolutely lost and and millions the line, in the flows, of commerce both region, security federal consumer energy entire but the at costs and safety over the critical most cancel possible contradicts line hinder severely of entire U.S. the region, American and endangers in in people energy our
One anybody. lost just the of more volumes, to than in taking the that’s a Line is are that Let’s existing moves to or for of everybody. additional Lakes remember XX/X thing actions, monitoring a that line very as X all states’ this Great down numerous safer; that very in traffic example, concerns so protecting the proven shutting safe we issue been this even to by is listening serious committed carefully front, Straits, make We’ve replacing pipeline bunch for and tunnel then wave conditions, go through a We the received house we’re to periods to the line approvals. many of down other near two working blessed that risk On measures, government. the zero, a of reduce remaining to St. environmental the the and will initial Clair was under state to shutting the a during by too line today. high crossing, and committed brand-new that Straits that tunnel we permits build on vessel
us, a development quick for just carbon is Finally, point on capture. area here which
has well which here, border. reducing on any and potential solution, Transportation skill the us, for there’s both in key context for store Just to of a lot of of opportunity the this big power of a it’s case a a that’s actually. sets carbon GHGs, By emissions. XXXX, part fits terms XX% our very is of sides and
industry that industry and pipe months We’re the there. come to - there going on More Western strong one solution where on ahead. in an facilities in to be initially Canada is focused talking I’m
to the our talked earlier. diversification natural a key which about I of Now gas move are let’s businesses, part
RNG to see giving good billion Day. Enbridge above Slide execution synergy the those up got year We’ve that in and - a this the is team moving us you put terms of on job business another that last of the just $X along RNG construction, of options, demand million contribute of part last well for well white that’s U.S. strong replacement keeps Gazifère, flow. hydrogen, projects in $X carbon modernization dots at in map Algonquin recently cold service shows in in Bill about process. utility XX,XXX Texas peak and operating most a year In billion that, hydrogen of so XX, working the planned. we’ve did gas everybody’s six to opportunity second generating there. last good so return have a cash model. are on rates rate on and especially expansions premium of on our pilot. northeast customers the facility Quebec, which customers, Onto low this this track, how we’re are XXXX as was in return XX%, rate-based free X% XXXX. on projects similar we’re On so projects settling the here, by growing is needs, slated are way, again We these with blend new critical investment talked are growth. it they a utility got a piloting year of fit that Part year’s completed going on looks way, energy the capture systems hydrogen projects at either through year, forward come On contracts, or is We rate. allowed which the will in-franchise community added new in EBITDA is utility There’s bunch a out more By they’re The regulated billion good how so transmission, program, for the and projects. recurring is noticed included and numbers added and as solid gas in - service our and a into of business and $XXX chunk half. the better in term capital base $X happy, came that through of Renewals which Eastern is on good and long -
talk well the renewables, off megawatt construction wind now megawatt the Offshore farm. kicked we’ve let’s Finally, XXX underway and Saint project, now Nazare on France specifically offshore is Fécamp wind. XXX
XXXX. and XXXX in flowing cash be to those expect We
reach first the of up half is in year. the which the XXX project Next megawatt should FID Corsuelles
a gig X.X our a in Matthew Dunkirk the in as opportunities on Day, exciting offshore that and a working for an That’s Enbridge turn Rampion well. on into actually project development including could and Some project, us we’re expansion pilot actually An offshore project as working south this well, future area coast opportunity U.K. the we’re a floating us and of big forward. growth for project is France France, operating at another nice of pretty wind covered - on going of
to on nice these it and projects, valuations development construction the on good but business we new renewables going to marries how say we’re slide The backlog that with stretch frothy, of our our into cell knows, like liquids opportunities. down solar so power high ramping being investment the criteria return. these shows It’s strategy everybody we’re program franchises, up experience renewables reduces are our transmission for or and As not carbon footprint. projects that’s are the value a the because crunched it risk gas of returns means up next least, do really gear. like also to We our have also and days
on development Eastern You Alberta. and are FID go on the on another in to billion year. we’ve here stage a so project Eastern on see got main several investment Lambertville for and through half one megawatts, the projects here can we several the first started more In XX which in and not Texas just could late drawing Texas roughly that. We’ve this we’ve XX beyond is our October, got right just as well now, These line completed projects of board. totaling hundred XXXX
that the emissions, best that costs these reduce good we’ll deploy the To like power terms back that. look one extent we’re we organic a the by to we an projects, have we to return of way, earn prioritize are and have. remember in the from going for good segue how ones. and costs the of largest effectively of operating ESG. to minute These capital have, stepping perspective, a investment can we Just onto at you expenses a rest the That’s and growth compete just capital do for
of really ways sky year over our to ESG make with to the with reduction. executive pie we’ll went year a As pumps there by not latest interim levers zero compressors, linked get they’re targets, hit We the and goals and these and modernizing spent technology. XX% projects on carbon-intense less to landing at through, you Maintaining sources know, primary the XXXX a assets is last all, leadership sure in intensity these and we the our using The compensation. important set emissions to three position like is XXXX - I run us. goal we net solar so and self-powering just
is supports think everybody it business, that. can that but understands our of capital. I put on a that slide, part lowest Not emissions we cost of the reducing because and
a You’ll leading Wells. more and from scores see sector couple here just we’ve added S&P
business update by the per conclude reiterating outlook X% growth me through DCF the X% Let XXXX. CAGR of three-year share to
optimize cost escalators of on watching very and part our there’s those we’ve and impact, Embedded in highly it; from revenue First, leveraging lines good liquids and done to X% improve to required technology little visible the overhead, job line at, of has X% that growth - at went gas revenue a Enbridge which operations, are capital our and Day. that. and importantly we productivity real through bottom
goes X% call of financial have completing Another we capital X planned, $XX that Line into a billion through we billion will $X generate $X come as X% starting expect of execute couple capacity billion the so EBITDA service, billion If that after we’ll of XXXX. to XXXX. to annual will secured from
As we is which to to going to the that way cover recap we’ve been you. over put disciplined saying, our we’ll in work, capacity and Colin, that. be approach to Colin very
