Enbridge to build pipelines to service new LNG facility in U.S.
U.S. and EU strike LNG deal amid goal to reduce reliance on Russian oil – Mar 25, 2022
Enbridge chief executive Al Monaco has been vocal in recent months about his belief that natural gas exports represent the largest opportunity for North America right now, and he has said that Enbridge is seeing a strong pick up in commercial interest from Asia and Europe to secure export capacity. The Plaquemines facility, which will have an export capacity of up to 20 million metric tonnes of LNG per year when fully developed, will be the fifth LNG facility on the U.S. Gulf Coast served by Enbridge pipelines. The company currently serves four operating LNG facilities in the region, and Monaco said earlier this month that it has secured projects to serve two additional proposed facilities if they go ahead.
In addition to LNG, Enbridge is also banking on increased crude oil exports from the U.S. Gulf Coast. Last fall, it acquired U.S.-based terminal and logistics company Moda Midstream Operating LLC for US$3 billion. As part of the deal, Enbridge acquired North America’s largest crude export terminal, the Ingleside Energy Center located near Corpus Christi, Texas, which handles about 25 per cent of all U.S. Gulf Coast crude exports.
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