Enbridge Inc (ENB) To Invest in Two Major Gas Transmission Projects in US

Enbridge Inc. (NYSE:ENB) is one of the Best TSX Stocks to Buy According to Billionaires. On September 2, Enbridge Inc. (NYSE:ENB) announced its final investment decisions on two major gas transmission projects in the United States.

Firstly, the Algonquin Reliable Affordable Resilient Enhancement project will increase gas deliveries on the Algonquin pipeline to local distribution companies in the US Northeast. The project is expected to add about 75 million cubic feet per day of natural gas under long-term contracts, improving supply reliability and lowering price volatility during winters. Management plans to invest $300 million and aims to complete it by 2029.

The second project is the Eiger Express Pipeline through the Matterhorn joint venture. This pipeline is expected to transport up to 2.5 billion cubic feet per day of natural gas from the Permian Basin in West Texas to the Katy area near the US Gulf Coast and is scheduled for completion in 2028.

Enbridge Inc. (NYSE:ENB) is a North American energy infrastructure company that transports and distributes oil, natural gas, and liquids through pipelines.

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Disclosure: None. This article is originally published at Insider Monkey.