Each year, we follow a comprehensive approach to strategic planning, through analyzing local and global energy fundamentals, competitor positioning and evolving customer needs. We also assess our assets and strategy under various scenarios to ensure the resiliency of our business. Finally, we look for opportunities to enhance and maximize value.
Over the past couple of years, we have faced a challenging macro-economic environment and regional conflicts continued to catalyze global change. While we have seen an abatement in some of these pressures with inflation and interest rates decreasing, geopolitical uncertainty remains heightened. Going forward, we need to continue to be mindful as trade flows, commodity prices, interest rates, supply chains and international relations are ever-changing and continue to impact global energy supply and demand.
However, within this dynamic environment, energy demand has remained strong for both conventional and lower-carbon energy sources. While the energy transition continues to progress, the pace has been challenged by policy, cost and technological realities. Overall, we remain confident that all forms of energy will be needed in the future, which fuels the planning and execution of our strategy.
In 2024, we completed the acquisition of three U.S. utilities to create North America’s largest natural gas utility platform. The acquisition diversifies our company, de-risks our growth and reinforces our belief in natural gas and its role in supporting a safe and reliable energy transition.
We continue to seek additional high growth opportunities across all our platforms, adding to our secured growth program currently over $29B.
Looking forward, we continue our measured and pragmatic “all of the above” approach to energy transition. We are investing in our four core businesses to meet growing global and North American energy demand, while lowering our emissions and meeting customers’ needs. We are focused on a growing number of liquids opportunities, expanding our North American export infrastructure, and capitalizing on North American electrification trends where we can provide integrated customer solutions through our gas and power businesses.
Tomorrow is on at Enbridge and we will continue to capitalize on our premier natural gas, liquids and renewables assets to fuel people’s quality of life in a safe, clean and socially responsible manner.
