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ENBRIDGE INC.

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Enbridge, Lehigh Cement Agree to Carbon Storage Plan in Alberta

01/26/2022 | 08:44am EDT

By Adriano Marchese


Enbridge Inc. and Lehigh Cement have agreed on a carbon storage deal in the Canadian province of Alberta, the two companies said Wednesday.

Enbridge will transport and store captured carbon dioxide produced by Lehigh Cement, a division of Lehigh Hanson Materials Ltd. Lehigh is developing a full-scale carbon capture, utilization and storage solution for the cement industry at its Edmonton plant, from which it plans to capture around 780,000 metric tons of carbon dioxide every year.

Enbridge said it will apply to develop an open access carbon hub west of the city through the provincial government's request for full project proposals process.

The project could be in service as early as 2025.

"This collaboration demonstrates our focus on local, cost-effective, customer-focused carbon transportation and storage solutions that drive scale and competitiveness while minimizing infrastructure footprint to protect land, water and the environment," said Colin Gruending, Enbridge's executive vice president and president of liquids pipelines.


Write to Adriano Marchese at adriano.marchese@wsj.com


(END) Dow Jones Newswires

01-26-22 0844ET

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ChangeLast1st jan.
ENBRIDGE INC. 0.52% 57.54 Delayed Quote.15.85%
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Financials
Sales 2022 50 943 M 39 671 M 39 671 M
Net income 2022 6 158 M 4 795 M 4 795 M
Net Debt 2022 75 971 M 59 162 M 59 162 M
P/E ratio 2022 18,7x
Yield 2022 5,98%
Capitalization 117 B 90 799 M 90 799 M
EV / Sales 2022 3,78x
EV / Sales 2023 4,11x
Nbr of Employees 10 900
Free-Float 99,8%
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Mean consensus OUTPERFORM
Number of Analysts 23
Last Close Price 57,54 CAD
Average target price 59,79 CAD
Spread / Average Target 3,90%
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Managers and Directors
Albert Monaco President, CEO & Non-Independent Director
Vern D. Yu Chief Financial Officer & Executive Vice President
Gregory Lorne Ebel Non-Executive Chairman
Bhushan N. Ivaturi Chief Information Officer & Senior Vice President
Lisa D Wilson Chief Compliance Officer & Vice President
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