Enbridge Puts $3B of Projects in Service, Holds 2026 Guidance
Enbridge placed $3 billion of completed projects into service in the third quarter, including Tennessee Ridgeline and B.C. Pipeline’s Aspen Point expansion, and reaffirmed 2026 guidance, according to a CNW release carried by BOE Report.
Market Impact
Third-quarter adjusted EBITDA reached $4.4 billion, up from $4.3 billion a year earlier. Distributable cash flow was $2.7 billion, compared with $2.6 billion. Figures are in Canadian dollars unless noted. CEO Greg Ebel said the company is on track to meet guidance for the 21st consecutive year. He also said the secured growth backlog stands at $38 billion even after the in-service additions.
Gas Transmission carries a $15 billion sanctioned portfolio. It includes the $4 billion Sunrise expansion of the B.C. Pipeline system and nearly 90 Bcf of storage expansions along the U.S. Gulf Coast and in B.C. Enbridge closed an initial $0.7 billion investment from KKR and Apollo and secured another $2 billion to support the Aspen Point and Sunrise programs.
In liquids, Enbridge closed the US$0.6 billion Salt Creek Midstream gathering acquisition in the Delaware basin in October. It also announced the US$2.6 billion Tallgrass crude business, with a Guernsey, WY to Cushing, OK corridor, and the US$0.3 billion Pony Express 2 project. The company sanctioned the $0.2 billion Long Lake Expansion in northern Alberta for a 2028 in-service date. Ebel retires in January, and Michele Harradence takes over.
What It Means for Subcontractors
The release names no contractors, work packages or bid dates. Where we describe likely work scopes below, that is our inference, not Enbridge’s statement.
- Post-startup work on Tennessee Ridgeline and Aspen Point: Both are now in service. Our inference is that punch-list, right-of-way restoration and early-life integrity work follow. Call your Enbridge gas transmission contacts now to confirm open scopes, and have current safety and quality documentation ready.
- Sunrise ($4 billion, B.C.): The extra $2 billion from KKR and Apollo is earmarked for Sunrise and Aspen Point, which suggests the program is funded. Canadian pipeline and facility trades should re-price labor and equipment before submitting numbers, since the project is sanctioned and long-duration.
- Gulf Coast and B.C. storage (nearly 90 Bcf): These sanctioned expansions are the likeliest source of piping, mechanical, electrical and instrumentation work in Enbridge’s US gas portfolio. Pre-qualify with Enbridge on those sites before packages are released.
- Permian and Rockies liquids: Salt Creek’s Delaware basin gathering system connects to Gray Oak and the Ingleside export terminal. Tallgrass was announced, not closed, so expect integration and tie-in work to follow. Gathering and tie-in crews in the Permian and the Bakken, Powder River and DJ basins should get on the new owner’s vendor lists.
- Long Lake Expansion (2028, Alberta): This is long-lead. It includes a new lateral pipeline and storage tank, plus added capacity on the Waupisoo and Wood Buffalo Extension lines. One near-term step is to confirm your Alberta safety certifications are current.
- Renewables: Sequoia Solar phase two is due in service by year-end. Enbridge also has more than 2 GW under construction and 1.5 GW safe-harbored in development. Electrical subs should ask about that safe-harbored pipeline now.
Enbridge’s Q3 2026 Management’s Discussion & Analysis, filed with the quarter-end financial statements, carries the detailed segment disclosures.
