Our strategic priorities
Safety and operational reliability
- Advance industry leadership in safety and system reliability
- Continue to improve on our health, safety and compliance performance
- Progress maintenance and integrity programs across our businesses
Maintain financial strength and flexibility
- Ensure we maintain our financial strength and optionality:
- Target debt/EBITDA range of 4.5x-5.0x
- Maintain investment-grade credit rating
- Continue to look for opportunities to recycle capital at attractive valuations
Disciplined capital allocation
- Maintain our diversified, low-risk pipeline/utility model
- Evaluate investment opportunities based on their strategic fit, alignment with our low-risk business model, and risk-adjusted returns
- Seek high-quality growth opportunities across all our businesses
Extend growth
- Successfully execute on our $29B+ secured project backlog
- Grow our base business by optimizing, modernizing and expanding our assets, growing utility rate base and advancing renewable projects
- Further our export positions in LNG, crude, and clean fuels
- Progress integration of U.S. utilities
- Collaborate across our business units to cross-sell to customers
- Strategic and value enhancing tuck-in mergers and acquisitions
Participate in energy transition
- Monitor transition signposts to mirror the pace of transition
- Invest in lower-carbon platforms where we can leverage our infrastructure, capabilities and stakeholder relationships while meeting return thresholds
- Proactively work with regulators and policymakers
- Continue to actively reduce our emissions footprint
