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Enbridge’s Record Q1 Volumes: Can Gulf Coast Expansions Unlock The Next Leg?

Enbridge Inc. reported a stable first quarter of 2026, reaffirming its full-year guidance and maintaining a medium-term outlook with a targeted debt-to-EBITDA ratio of 4.5 to 5 times. The company demonstrated strong operational performance, including record Q1 volumes on its liquids pipelines and high utilization across its gas transmission and distribution systems. Notable completions in the quarter include the Ingleside tank storage expansion and the 120,000 barrels-per-day Gray Oak pipeline expansion, which enhance export capabilities and storage capacity along the U.S. Gulf Coast. The company’s strategy focuses on capitalizing on rising energy demand, notably in natural gas and crude oil exports, as well as advancements in renewable power. Enbridge highlighted growing North American and global liquefied natural gas (LNG) export needs, supporting numerous sanctioned projects with estimated capital expenditures valuing in the billions.