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Enbridge Inc
Symbol ENB
Shares Issued 2,125,586,366
Close 2024-03-05 C$ 47.29
Market Cap C$ 100,518,979,248
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Enbridge, FortisBC receive funding for hydrogen studies

2024-03-06 11:57 ET - News Release

Ms. Cynthia Hansen reports

B.C. GOVERNMENT AND INDUSTRY PARTNERS WORKING TO DEVELOP HYDROGEN AS A LOW-CARBON ENERGY OPTION FOR FAMILIES AND BUSINESSES

Enbridge Inc. and FortisBC Energy Inc. have received funding, with contributions from the British Columbia Ministry of Energy, Mines and Low Carbon Innovation, for their own respective studies to produce an integrated summary that will examine how hydrogen, a low-carbon energy source, can be safely and reliably delivered using the province's existing gas pipeline infrastructure.

This hydrogen blending study will look at the percentage of hydrogen that can be safely transported through gas pipeline infrastructure, such as Enbridge's Westcoast natural gas transmission system, as well as FortisBC's gas transmission and distribution systems, to reduce greenhouse gas emissions and help develop a low-carbon energy economy. If upon completion it is determined that hydrogen can be safely transported in this infrastructure, the study will be used to inform the development of codes and standards to regulate its transportation and help to inform the development of a commercial hydrogen market in the province.

Enbridge's Westcoast system operates more than 2,900 kilometres (km) of pipeline from the northeast of the province to the United States-Canada border and east to the B.C.-Alberta border. This pipeline system supplies natural gas to FortisBC's approximately 51,000 km gas transmission and distribution system. The gas transported on these systems is ultimately used to heat homes, hospitals, businesses and schools.

B.C.'s gas infrastructure can play an important role in enabling the energy transition and providing people with the energy they need and use every day. As the energy transition progresses, the type of energy transported on this infrastructure can change to include more low-carbon and renewable sources. B.C. is well positioned to make this happen and has significant potential to produce the energy needed to transition to a low-carbon future that creates new opportunities for communities and Indigenous groups to participate in the energy transition.

Quotes

"Hydrogen is a renewable energy source that is critical to reducing greenhouse gas emissions and helping the province transition to clean energy. By using existing infrastructure to transport this energy, we can reduce the number of trucks on B.C. highways and roads," said Josie Osborne, Minister of Energy, Mines and Low Carbon Innovation. "This partnership study will also help to inform our regulatory standards going forward so that this clean energy can be transported efficiently and safely to the markets that need it."

"At Enbridge, we are working hard to reduce our greenhouse gas emissions and the carbon intensity of the energy we transport," said Cynthia Hansen, Enbridge executive vice-president and president, gas transmission and mid-stream. "One way we're doing this is by using our existing energy infrastructure to transport low-carbon forms of energy such as hydrogen. This important study will play a critical role in determining how existing energy infrastructure can be used to transport hydrogen and how we can continue to work to advance the energy transition."

"FortisBC recognizes that we have a critical role to play in helping our customers reduce greenhouse gas emissions by providing new energy options that can be delivered safely and reliably through our existing gas system," said Roger Dall'Antonia, president and chief executive officer at FortisBC. "Our long-term vision is to have hydrogen be part of our renewable and low-carbon gas supply, and collaboration with industry and government in research such as this is a pivotal step toward finding the safest way of making that vision a reality."

About Enbridge Inc.

Enbridge safely connects millions of people to the energy they rely on every day, fuelling quality of life through the company's North American natural gas, oil and renewable power networks and its growing European offshore wind portfolio. Enbridge is investing in modern energy delivery infrastructure to sustain access to secure, affordable energy and building on more than a century of operating conventional energy infrastructure and two decades of experience in renewable power. The company is advancing new technologies, including hydrogen, renewable natural gas, carbon capture and storage, and is committed to achieving net-zero greenhouse gas emissions by 2050. Headquartered in Calgary, Alta., Enbridge's common shares trade under the symbol ENB on the Toronto (TSX) and New York (NYSE) stock exchanges.

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