Enbridge aims to help North America win from the AI boom and the Iran war as the FedEx of energy delivery |
Enbridge aims to help North America win from the AI boom and the Iran war as the FedEx of energy delivery
Call it the FedEx of energy. Calgary-based Enbridge has grown into the largest oil and gas pipeline company in the world by market cap—$120 billion—delivering vital energy supplies across the globe. Just don’t simplify Enbridge to only putting pipe in the ground.
With assets that span renewables to utilities, Enbridge boasts a broad array of businesses that’s matched by the lofty role it sees itself playing on the world stage. Enbridge—whose name is a contraction of energy bridge—is committed to keeping the economic and cultural bonds between North America’s neighbors strong and healthy; it doesn’t hurt that CEO Greg Ebel, a dual citizen, is an unofficial diplomatic whisperer to the White House and Canadian Prime Minister Mark Carney helping to ease tensions between the two.
Enbridge is positioning itself to help power the AI data center boom and to lead oil and gas exports for the world as the war in the Middle East places more emphasis on secure American supplies—capturing all the key facets of the industry’s growth. For good measure, Enbridge even develops offshore wind farms in Europe.
“We want to be the first choice for energy delivery in North America and beyond,” Ebel said, sitting down with Fortune.
“One of the unfortunate—but positive for North America—outcomes of this Middle East situation will be a greater recognition that there’s less of a risk premium needed in North America,” Ebel said. “I think that’s an upside for Canada and the United States and for infrastructure players like us.”
Scaling up for ‘energy dominance’
Apart from becoming the preeminent pipeline player, Enbridge is the fourth-largest Canadian company by market cap, trailing Shopify. Enbridge ranks one spot above Netflix in the Fortune Global 500. And, to complete the delivery circle, Enbridge exceeds both FedEx and UPS in market cap. In fact, its market value is on par with Big Oil giant BP.
Splitting his time between Calgary and Houston, Ebel has helped Enbridge expand to 43 U.S. states and eight of the 10 Canadian provinces. Enbridge also pipes U.S. natural gas directly to Mexico. Enbridge moves nearly one-third of North........