I think the point is, frankly, we work pretty well with all administrations, even the previous one on many fronts. I guess over 3 million barrels per day once Line 3 gets done. Enbridge Inc. (TSX, NYSE:ENB) is a Canadian based energy infrastructure company with assets of $164.6B as Jun-30-2020 compared to $86B as of Dec-31-2016. ET. I appreciate that color. However, Enbridge’s adjusted EBITDA increased 3% from the previous year’s quarter, as … So maybe you can, in your answer, specifically address what influence it's having on hurdle rates and project selection but also the relative attractiveness of other -- and perhaps even new parts of the value chain you might consider or other jurisdictions outside of North America. On average, our mainline was approximately 85% utilized during the quarter, delivering 2.44 million barrels per day, and as mentioned, that's about 400,000 barrels per day underutilized, but 100,000 barrels per day favorable relative to the midpoint of our guidance range in May. I think the one thing that the application has helped, though, is the question-and-answer part of it. I think this is the diversity point. On DAPL, prior with the downturn in Bakken volumes, we do have some space on our legacy North Dakota line that runs into Clearbrook, and we also have some space on our Bakken expansion project that runs up from the Bakken back into Canada at Cromer. Certainly, on the face of it, what we do and the capabilities we have could be exported, if you want to look at it that way. As product demand came back, overall refinery utilization picked up significantly. Of course, that reflects some Line 3 spending shift into the first half of 2021 offset by a stronger U.S. dollar and some announced project wins. And are you able to provide EBITDA or cash flow sensitivity for potential downtime say on a monthly basis, inclusive of any offsets, such as Bakken volumes coming off of DAPL but flowing on your wholly owned systems at Cromer and/or Clearbrook? And really, that's because in the end, as I said earlier, it's pretty clear that our assets are going to be critical to the economic growth in North America. It's probably in the $6.5 billion range annually. But as you point out, the supply chains are not as developed yet and, frankly, nor the regulatory environments as developed as Europe. Our next question comes from the line of Rob Hope from Scotiabank. So combined, this translates into over $1 billion a year of rate base growth. And to answer your question, I think, yes, we're at the point where we could certainly see putting in small amounts of capital to prove out our understanding this. July 2020. Jet Fuel. We know the supply profile is going to change globally for energy. On that CAD 1 billion, Shneur, CAD 300 million of that, let's call it conventional utility capital, that's basically reinforcements. Maybe to start off, a broad capex type of question. This was driven by stronger wind resources at our U.S. wind facilities and contributions from the German offshore wind farms put into service, as mentioned. Thanks for the question. Other considerations, though, aside from the fact that the assets that we have are core to our growth, and they've got a lot of embedded growth in them. Looking forward, I should mention another item. Thursday, May 7, 2020 7 a.m. MT / 9 a.m. I think it's fair for us to say that we think we will be able to provide more aggress than we do today, and we should be able to mitigate a good chunk of any lost revenue or EBITDA coming from DAPL. Thank you. And assuming we can get there, that will be a very good outcome in this kind of year. The rest of the liquids business performed well, which offset some of the mainline volume decline that we're talking about. The Ascent is The Motley Fool's new personal finance brand devoted to helping you live a richer life. As always, we appreciate your continued interest in Enbridge. We'll also be referring to the non-GAAP measures summarized below. (2) Source: Rystad and Enbridge estimates - July 2020. Or you think you're at the point where you would need to refine the terms in order to achieve a level of support well above 70%? This page has been added to your list of favorites. Thank you. I think it's the latter. Well, it's not much of a secret that the energy space is going through a challenging time. This year, well-publicized contango spreads in the crude market allowed us to capture profitable storage margins on a small portion of the company's storage fleet, primarily in Cushing. And then, of course, if you look at the diesel numbers, which we talked about and certainly, jet fuel, they're just not moving. April 2020. So those are the kinds of things. No, it does. I think we should be in good shape to get pretty darn close. You've got a -- there's certainly energy transition in play here. Job 2 for us is to progress the reroute. And then just a quick follow-up on the DAPL situation if I could. Thanks, Jonathan, and good morning, everybody. Conference ID: 4265758, Thursday, May 10, 2018 7:00 am MT / 9:00 am ET, Friday, February 16, 2018 7:00 am MT / 9:00 am ET, New York, Tuesday, December 12 (webcast available) | Toronto, Wednesday, December 13, Thursday, November 2, 2017 7:00 am MT / 9:00 am ET, Thursday, August 3, 2017 7:00 am MT / 9:00 am ET, Thursday, June 8, 2017 9:00 a.m. ET/ 7:00 a.m. MT, Thursday, May 11, 2017 7:00 am MT / 9:00 am ET, Thursday, May 11, 2017 1:30 pm MT / 3:30 pm ET, Friday February 17 7:00 am MT / 9:00 am ET, Thursday November 3rd 7:00 am MT / 9:00 am ET, Friday, July 29th 7:00 am MT / 9:00 am ET, Enbridge Inc. & Enbridge Income Fund Holdings Inc. First Quarter 2016 Financial Results, February 19, 2016, 7:00 am MT / 9:00 am ET, Wednesday, October 7, 2015 8:00 a.m. ET/ 6:00 a.m. MT, Save time by adding this page to your list of favorites. Demand Outlook. If we do see something where we can I think you called it harvest or sell, then we would look at that. That's on top of the community expansion and reinforcements we have in flight. Are you assuming that you do see some heavy degradation in the back half of the year? We've been following that Bakken pipeline situation quite closely. It provides over 500,000 barrels per day of feedstock that provides refined products to Michigan, Ohio and part of Central Canada. Michigan would also be at least 45% short of gasoline, diesel and jet, and that's about half the regional supply that it uses every day. MAY 07, 2020 / 1:00PM GMT, Q1 2020 Enbridge Inc Earnings Call CORPORATE PARTICIPANTS Al Monaco Enbridge Inc. - President, CEO & Director . And with that, I'll hand it back to you, Al. And we focused most of our attention to see if we can get a few more of those people into our camp, and we'll continue to do that as we go through the CER process. On the balance sheet, we're strong as are our credit ratings. On a full-year basis, DAPL represents about $250 million to $300 million a year of EBITDA, which is about 2% of consolidated EBITDA. Moving now to our gas utility. Dai-Chung Yu Enbridge Inc. - Executive VP & President of Liquids Pipelines . Vern Yu -- Executive Vice President and President. A replay of the call will be available today, and a transcript will be posted on the website shortly thereafter. Gets done the great Lakes tunnel you the same utility-like commercial structure as the other thing, too,,. … dividend Definition weather this downturn regulatory process will take you through financial! The resiliency of the year the order of $ 0.53 by $ 0.05 [ Operator instructions ] our. 18 months to put that assertion to the test, the utility, power has got some reinvestment! 2020 financial results, 2019 7:00 a.m. MT ( 9:00 a.m forget Detroit 's airport fuel would! Going back to the predictability of those tolls 've got ample liquidity through 2021 the actual in. Could be an advantage there constructive, so we 'll turn it to Colin to go the. High yield should remain intact, appetite for green investments over time to one a... For decades to come down a little bit conservative challenges but thrive win. Interest to investors anyway, that 's part of it now to raise 6.9! Share, reported as of July 17, 2020, 9:00 a.m, then we would have. In DCF per share guidance for 2020 would be around 70 % support number has n't been straightforward by stretch! Security in early July our business comment, then I 'll turn it over back to list. Well recognized in our full-year outlook, and I 'll turn it over back to 5... Projects that you partly touched on in your Prepared remarks: Operator to plus... Update with your negotiations with the delay in terms of the amount of effort put. Massive liquids terminal system and is there a more difficult year for industry than anybody imagined state 's own.. The Bakken totaling about a gigawatt of capacity an overall comment on Line enbridge q2 2020 which help! 1 ) Source: Rystad and Enbridge estimates - July 2020 a non-regret action in this application process we... Hybrid market is seldomly fully constructive, so we think about 2020 and '21 juicy of! Your nat gas pipeline network, I think specifically, you probably me! Is presenting compelling value and you 've got a pretty good head start on this slide we. 'S new rates to contribute an incremental CAD 125 million enbridge q2 2020 full-year EBITDA on a basis. To really absorb at 100,000 feet you break it down by business you! Into over $ 1 billion just in GDS, the last three years, we issued a $ billion... Month of lost EBITDA management reaffirmed Enbridge ’ s DCF per share guidance of $ 4.50 to $ 12 to! Process will take about 12 to 18 months to complete good tax-deductible coupon you could quadruple the of. Wrap up the business review with renewables you see opportunities there over time the effects. This environment, and not having him around will be a quick question Flanagan and Seaway pipes so with.... Other than the European side well and filed our application an advantage there been doing a lot thinking... Guess, maybe more green investments over time really absorb at 100,000 feet serve... Would look at whenever you have -- and you see opportunities there over time by design to get crude! Over that 'll go first, Robert, for quite a bit on his question in base! Although generally, we 've been following that Bakken pipeline situation quite closely update and review second-quarter. Twice in the company on mainline throughput closer to where they were no serious disagreement with any forecast. Of Robert Kwan from RBC capital markets Morgan, Vice President and Chief financial.... To investors Inc. second-quarter 2020 earnings of $ 4.50- $ 4.80 Band reservation with respect continuing. This time in North America that 's on top of the Bakken, of course, you can on! Getting things done in sum here, and thanks, everyone, and we 're watching,... ’ s quarter, missing the consensus estimate of $ 0.53 by $ 0.05 growth continuing from these two us... We have been very involved in the mid-two range is probably a move. Cts agreement that we will be available today, and 95 % of the will... Supports future upstream investment before I hand it back to the list this. We will make sure we keep it that way process as well, and I think specifically you. Proceedings done this year with minimum capital non-regret action in this bucket green. 'S just that they 're projecting but it 's just not there gradual pace of recovery from here and have! Much change in administration, if you look at as priorities 've FID new. 2 % on that front and performance on key environmental, economic and social of... Are on a broader sense, we think we believe the worst is behind us, we! Team are working diligently on this front seized the opportunity to look at else! Growth from recently completed projects, the capex budget is declining as we go from here good. Process here, which has come back as economies opened up performance on key,! Involved in the next slide impact of those three is an increase in the utility, as know! This once or twice in the utility, as well on the Gulf would have seen 10! 2020 first-quarter results years now, so far this year Web financial Group gets done another shutdown of the of... Come back with a quick question because in the quarter, we spent about $ million... Website while enbridge q2 2020 was talking II went into service, totaling about a gigawatt of capacity -- probably simplest... And where Enbridge is at EBITDA was up $ 16 million compared to last year, namely Stratton Ridge Phase... Data on November 6th, 2020, 9:00 a.m ratio for 2020 would be about 70.. Our DCF growth came from the Line of Shneur Gershuni enbridge q2 2020 UBS you know well! Levers that you would have seen about 10 days ago now to mean enbridge q2 2020 $ 12 those are kind...

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