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Enbridge reaches final investment decision on two Gas Transmission projects

Enbridge (ENB) has reached a final investment decision on two Gas Transmission projects. The company signed commercial agreements for the Algonquin Reliable Affordable Resilient Enhancement project – AGT Enhancement – expected to increase deliveries on Algonquin Gas Transmission pipeline to existing Local Distribution Company customers in the U.S. Northeast. In addition, through its Matterhorn joint venture, the company reached a final investment decision on the Eiger Express Pipeline, an up to 2.5 Bcf/d pipeline from the Permian Basin to the Katy area to serve the growing U.S. Gulf Coast LNG market. Once completed, AGT Enhancement will deliver approximately 75 Mmcf/d of incremental natural gas, under long-term contracts, to investment grade counterparties in the U.S. Northeast. Enbridge expects to invest $0.3B in system upgrades within, or adjacent to, existing rights-of-way. Subject to the timely receipt of the required government and regulatory approvals, Enbridge fully expects to complete AGT Enhancement in 2029.

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