SOURCE: Enbridge
DESCRIPTION:
HOUSTON, May 10, 2022 /3BL Media/ - Enbridge Inc. (Enbridge) (TSX: ENB) (NYSE: ENB) and Humble Midstream, LLC (Humble), an EnCap Flatrock Midstream portfolio company, are pleased to announce the joint development and marketing of a low-carbon hydrogen and ammonia production and export facility which will 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 production facility, capable of supplying both low-carbon hydrogen and ammonia to meet the growing global and domestic demand. Up to 95 percent of the carbon dioxide (CO2) generated in the production process will be sequestered in newly developed carbon capture infrastructure, including facilities to be owned and operated by Enbridge, making this a fully integrated low-carbon solution. Enbridge's affiliate, Texas Eastern Transmission Pipeline, is expected to provide the transportation service for feed gas that will be used for the production process. Both hydrogen and ammonia have zero CO2 emissions at the point of use.
Enbridge and Humble intend to jointly market the capacity of the facility and are in discussions with several potential offtake customers. The construction of any facilities 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, Enbridge Executive Vice President and President, Liquids Pipelines. "The EIEC is already the premier export facility on the U.S. Gulf Coast and will play an even greater role in global energy security and sustainability. We're excited to work with Humble to further develop this opportunity."
"Humble is pleased to be joining Enbridge in this first-mover effort to develop clean energy alternatives on a world-class scale," said Humble Midstream CEO Steven Huckaby. "We believe the midstream expertise of both companies positions us well to provide affordable hydrogen and ammonia to a marketplace seeking low carbon alternative fuels. Our team is glad to be partnered with EnCap Flatrock Midstream to pursue this opportunity, a natural extension of their longstanding midstream strategy."
Enbridge Forward-Looking Information
Forward-looking information, or forward-looking statements, have been included in this news 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 appropriate for other purposes. Forward-looking statements are typically identified by words such as ''anticipate'', ''expect'', ''project'', ''estimate'', ''forecast'', ''plan'', ''intend'', ''target'', ''believe'', "likely" and similar words suggesting future outcomes or statements regarding an outlook. Forward-looking information or statements in this news release include statements with respect to the proposed low-carbon hydrogen and ammonia production and export facility at Enbridge Ingleside Energy Center, including the characteristics and benefits thereof, related carbon capture infrastructure, supply and customer arrangements and conditions precedent for the project.
Although Enbridge believes these forward-looking statements are reasonable based on the information available on the date such statements are made and processes used to prepare the information, such statements are not guarantees of future performance and readers are cautioned against placing undue reliance on forward-looking 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 such statements. Assumptions regarding the expected supply of and demand for crude oil, natural gas, natural gas liquids, renewable energy and other commodities, and the prices of these commodities, are material to and underlie all forward-looking statements, as they may impact current and future levels of demand for the Company's services. Similarly, energy transition, including the drivers and pace thereof, exchange rates, inflation and interest rates impact the economies and business environments in which the Company operates and may impact levels of demand for the Company's services and 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 a forward-looking statement cannot be determined with certainty. The most relevant assumptions associated with forward-looking statements on 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 government, regulatory and stakeholder actions and approvals on construction and in-service schedules; the availability and price of labour and construction materials; the effects of inflation and foreign exchange rates on labour and material costs; the effects of interest rates on borrowing costs; technology-related matters; the impact of weather; and expectations about our partners' ability to complete and finance proposed projects.
Enbridge's forward-looking statements are subject to risks and uncertainties, including, but not limited to those risks and uncertainties discussed in this news release and in the Company's other filings with Canadian and United States securities regulators. The impact of any one risk, uncertainty or factor on a particular forward-looking statement is not determinable with certainty as these are interdependent and Enbridge's future course of action depends on management's assessment of all information available at the relevant time. Except to the extent required by applicable law, Enbridge assumes 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 the Company's behalf, are expressly qualified in their entirety by these cautionary statements.
About Enbridge Inc.
Enbridge Inc. is a leading North American energy infrastructure company. We safely and reliably deliver the energy people need and want to fuel quality of life. Our core businesses include Liquids Pipelines, which transports approximately 30 percent of the crude oil produced in North America; Gas Transmission and Midstream, which transports approximately 20 percent of the natural gas consumed in the U.S.; Gas Distribution and Storage, which serves approximately 3.9 million retail customers in Ontario and Quebec; and Renewable Power Generation, which owns approximately 1,766 MW (net) in 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
Headquartered in Denver, Humble Midstream is focused on solutions to transform energy markets by delivering 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 in the development and operation of clean hydrogen, clean ammonia, and carbon capture, utilization, and sequestration (CCUS) projects. Humble is backed by an equity commitment from EnCap Flatrock Midstream. Please visit www.humblemidstream.com for more information on 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 firm was formed in 2008 by a partnership between EnCap Investments L.P. and Flatrock Energy Advisors, LLC. Based in San Antonio with offices in Oklahoma City and Houston, the firm manages investment commitments of nearly $9 billion from a broad group of prestigious institutional investors. EnCap Flatrock Midstream is currently making commitments to management teams from EFM Fund IV, a $3.25 billion fund. For more information, please visit www.efmidstream.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Enbridge
Media
Toll Free: (888) 992-0997
Email: media@enbridge.com
Investment Community
Toll Free: (800) 481-2804
Email: investor.relations@enbridge.com.
Humble
Media:
TEN|10 Group
Bevo Beaven
303.433.4397
SOURCE Enbridge Inc.
KEYWORDS: NYSE:ENB, Enbridge, Humble Midstream