Enbridge's Mainline System Is in Focus in 2024 With the Trans Mountain Expansion Entering Service

Enbridge stands out among North American midstream operators with a utilitylike earnings profile. Its most important asset, the Mainline system, controls over 70% of Canada's takeaway capacity and is linked to highly complex U.S. refineries that value heavy oil, so demand remains secure in the near to medium term despite the increase in U.S. light oil production. Over 80% of Enbridge's EBITDA is protected against inflation.