Enbridge and Humble Midstream – GuruFocus.com
HOUSTON, May 6, 2022 /PRNewswire/ – Enbridge Inc. (Enbridge) (TSX: ENB) (NYSE: ENB) and Humble Midstream, LLC (Humble), an EnCap Flatrock Midstream portfolio company, are pleased to announce the development and commercialization joint ventures of a hydrogen and ammonia production and export facility to be located at the Enbridge Ingleside Energy Center (EIEC), near Corpus Christi, Texas.
Enbridge and Humble plan to develop a utility-scale, ultra-low-carbon generation facility capable of supplying both low-carbon hydrogen and ammonia to meet global demand and growing national. Up to 95% of the carbon dioxide (CO2) generated in the production process will be sequestered in new carbon capture infrastructure, including facilities owned and operated by Enbridge, making it a low carbon solution fully integrated. Enbridge’s affiliate, the Texas Eastern Transmission Pipeline, is expected to provide service to transport feed gas that will be used for the production process. Hydrogen and ammonia have zero CO2 emissions at the point of use.
Enbridge and Humble intend to jointly market the facility’s capacity and are in discussions with several potential offtake customers. Construction of any facility will be subject to sufficient customer support and receipt of all necessary regulatory approvals.
“This is a good example of how Enbridge is leveraging existing conventional energy assets and capabilities to extend growth and capitalize on low-carbon opportunities in the energy transition,” said Colin Gruending, Executive Vice President of Enbridge and President, Liquids Pipelines. “The EIEC is already the premier export facility on the US Gulf Coast and will play an even greater role in global energy security and sustainability. We are excited to work with Humble to further develop this opportunity.
“Humble is thrilled to join Enbridge in this pioneering effort to develop clean energy alternatives on a global scale,” said Humble Midstream CEO. steven huckaby. “We believe the cross-media expertise of both companies positions us well to provide affordable hydrogen and ammonia to a market seeking low-carbon alternative fuels. Our team is pleased to partner with EnCap Flatrock Midstream to pursue this opportunity, a natural extension of their long-standing midstream strategy.”
Enbridge Forward-Looking Information
Forward-looking information or forward-looking statements have been included in this press release to provide information about Enbridge Inc. (“Enbridge” or the “Company”) and its subsidiaries and affiliates, including management’s assessment of Enbridge and its subsidiaries. future plans and operations. This information may not be suitable for other purposes. Forward-looking statements are generally identified by words such as “anticipate”, “expect”, “project”, “estimate”, “expect”, “plan”, “have ”intent”, ”target”, ”believe”, ‘likely’ and similar words suggesting future results or statements about a prospect. Forward-looking information or statements in this press release include statements regarding the proposed low-carbon hydrogen and ammonia production and export facility at Enbridge Ingleside Energy Center, including the characteristics and benefits thereof, associated carbon capture infrastructure, supply and customer agreements and project conditions precedent.
Although Enbridge believes these forward-looking statements are reasonable based on the information available as of the date these statements are made and the processes used to prepare the information, these statements are not guarantees of future performance and readers are cautioned not to place undue reliance on forward-looking statements. statements. By their nature, these statements involve a variety of assumptions, known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by these statements. Assumptions regarding the expected supply and demand for crude oil, natural gas, natural gas liquids, renewable energy and other raw materials, as well as the prices of these raw materials, are important and underlie all forward-looking statements, as they may have a current and future impact. levels of demand for the Company’s services. Similarly, the energy transition, including the drivers and pace thereof, currency exchange rates, inflation and interest rates impact the economies and business environments in which the Company operates and may affect levels of demand for the Company’s services and the cost of inputs, and are therefore inherent in all forward-looking statements. Due to the interdependencies and correlation of these macroeconomic factors, the impact of any one assumption on any forward-looking statement cannot be determined with certainty. The most relevant assumptions associated with forward-looking statements about announced projects and projects under construction, including estimated in-service dates and the realization of anticipated benefits, include the following: the impact of litigation and actions and approvals government, regulatory authorities and stakeholders on construction and service schedules; the availability and price of labor and construction materials; the effects of inflation and currency exchange rates on labor and material costs; the effects of interest rates on borrowing costs; technology issues; the impact of weather; and expectations regarding the ability of our partners to carry out and finance the proposed projects.
Enbridge’s forward-looking statements are subject to risks and uncertainties, including, but not limited to, the risks and uncertainties discussed in this news release and in other company filings. with Canadian and United States securities regulators. The impact of any risk, uncertainty or factor on a particular forward-looking statement cannot be determined with certainty because they are interdependent and Enbridge’s future course of action depends on management of all information available at the relevant time. Except to the extent required by applicable law, Enbridge undertakes no obligation to publicly update or revise any forward-looking statements made in this news release or otherwise, whether as a result of new information, future events or otherwise. All subsequent forward-looking statements, whether written or oral, attributable to Enbridge or persons acting on behalf of the Company are expressly qualified in their entirety by these cautionary statements.
About Enbridge Inc.
Enbridge Inc. is a major North American energy infrastructure company. We safely and reliably deliver the energy people need and want to improve their quality of life. Our principal businesses include Liquids Pipelines, which transports approximately 30% of the crude oil produced in North America; Gas Transmission and Midstream, which transports approximately 20% of the natural gas consumed in the United States; Gas Distribution and Storage, which serves approximately 3.9 million retail customers in Ontario and Quebec; and Renewable Power Generation, which has approximately 1,766 MW (net) of renewable power generation capacity in North America and Europe. The Company’s common shares trade on the Toronto and New York stock exchanges under the symbol ENB. For more information, visit www.enbridge.com.
About Humble Midstream LLC
Based at denver, Humble Midstream is focused on solutions to transform energy markets by providing sustainable and scalable low carbon solutions to accelerate the net zero future. Leveraging decades of midstream energy experience, the Humble team is positioned to lead the development and operation of clean hydrogen, clean ammonia and capture, utilization and carbon sequestration (CCUS). Humble is backed by an equity commitment from EnCap Flatrock Midstream. Please visit www.humblemidstream.comfor more information about the company and its management team.
About EnCap Flatrock Midstream
EnCap Flatrock Midstream provides value-added growth capital to proven management teams focused on midstream infrastructure opportunities across North America. The company was created in 2008 by a partnership between EnCap Investments LP and Flatrock Energy Advisors, LLC. Situated at San Antonio with offices at Oklahoma City and Houstonthe company manages investment commitments of nearly $9 billion of a large group of prestigious institutional investors. EnCap Flatrock Midstream is currently engaging with the management teams of EFM Fund IV, a $3.25 billion funds. For more information, please visit www.efmidstream.com.
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