22:14:45 EDT Tue 07 May 2024
Enter Symbol
or Name
USA
CA



Enbridge Inc
Symbol ENB
Shares Issued 2,125,574,107
Close 2023-11-03 C$ 46.26
Market Cap C$ 98,329,058,190
Recent Sedar Documents

Globe/CP say Enbridge buying seven RNG facilities

2023-11-06 07:54 ET - In the News

The Globe and Mail reports in its Saturday edition that Enbridge has bought seven renewable natural gas facilities in Texas and Arkansas for $1.2-billion (U.S.). A Canadian Press dispatch to The Globe reports that the acquisition of the facilities from Morrow Renewables establishes Enbridge as one of the largest transporters of renewable natural gas by volume in North America. Renewable natural gas, often called RNG, refers to non-fossil-fuel-based renewable energy created from organic waste. The seven facilities currently deliver RNG from municipal landfills in six Texas locations as well as Fort Smith, Ark. RNG facilities collect the gas that is produced by waste decomposition in the landfill. The gas is then treated and compressed into pipeline-grade methane, which is easily blended into existing natural gas transmission networks. Enbridge chief executive officer Greg Ebel on a third-quarter conference call Friday said: "RNG fundamentals are strong in the United States and indicate continued growth in demand over the long-term as gas utilities increasingly continue to set RNG blending targets. This was the perfect opportunity to meaningfully add to our RNG portfolio with an accretive tuck-in."

© 2024 Canjex Publishing Ltd. All rights reserved.