Enbridge
 |
|
| Public | |
| Traded as | : ENB : ENB S&P/TSX 60 Component |
| Industry | Oil and gas |
| Founded | April 30, 1949 as Interprovincial Pipe Line Company |
| Founder | Imperial Oil |
| Headquarters | Calgary, Alberta, Canada |
|
Key people
|
Al Monaco(CEO) |
| Services |
Pipeline transport Oil storage |
| Revenue | C$32.9 billion |
| C$629 million | |
| Total assets | C$57.6 billion |
| Total equity | C$13.5 billion |
|
Number of employees
|
11,000+ |
| Subsidiaries | Enbridge Pipelines Enbridge Technology Enbridge Gas Distribution Enbridge Energy Partners (~15%) |
| Website | www |
Enbridge, Inc. is an energy delivery company based in Calgary, Alberta, Canada. It focuses on the transportation, distribution and generation of energy, primarily in North America. As a transporter of energy, Enbridge operates in Canada and the United States, the longest crude oil and liquid hydrocarbons transportation system in the world. As a distributor of energy, it owns and operates Canada's largest natural gas distribution network, providing distribution services in Ontario, Quebec, New Brunswick and New York State.
The company was initially incorporated by Imperial Oil as Interprovincial Pipe Line Ltd. (IPL) on April 30, 1949 shortly after Canada's first major oil discovery at Leduc, Alberta. At the same year the company built its first oil pipeline from Leduc to Regina, Saskatchewan. In 1950, it was expanded through Gretna, Manitoba, to Superior, Wisconsin, in the United States. To operate the United States portion of the pipeline, the Lakehead Pipe Line Company (now: Enbridge Energy Partners) was created. In 1953 the pipeline was expanded to Sarnia, Ontario and in 1956 to Toronto and Buffalo, New York.
In 1953, IPL was listed on the Toronto and Montreal exchanges.
In 1983 IPL built Norman Wells pipeline and joined Frontier Pipeline Company. In 1986, through a series of stakes' exchanges IPL gained control of Home Oil and in 1988 it changed it name to Interhome Energy Inc. In 1991, it changed its name to Interprovincial Pipe Line Inc. in 1991. In 1992 Interprovincial Pipe Line Inc. was acquired by Interprovincial Pipe Line System Inc. which changed its name to IPL Energy Inc in 1994, after acquisition of Consumers' Gas (now Enbridge Gas Distribution Inc.) and diversification into the gas distribution business. In addition it acquired stakes in AltaGas Services and the electric utility of Cornwall, Ontario. Through 1990s the company expanded its gas pipeline network and acquired stake in the Chicap oil pipeline. It also built the Athabasca Pipeline from northeastern Alberta to the main pipeline system. In 1995 the company also expanded its activities outside of North America by taking a stake in the Ocensa pipeline. This stake was sold in 2009. IPL Energy became Enbridge Inc in 1998. The Enbridge name is a portmanteau from "energy" and "bridge".
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Wikipedia