Enbridge Inc.

Major steel pipe supplier; Enbridge purchased over 2M tons of carbon-steel pipe from EVRAZ since 2006. Sold to Atlas Holdings and renamed Orion Steel in 2025

Sulzer AG

SWX:SUN

Supplier of mainline pipeline pumps; delivered 1,000th pump to Enbridge in 2014; relationship since 1953

Baker Hughes (GE Vernova)

NASDAQ:BKR

Pipeline inspection technology (ILI/smart pigs), digital pipeline safety solutions, flow measurement equipment; partner since 1998

Barnard Construction Company, Inc.

Tunnel construction contractor for Great Lakes Tunnel project (Line 5 replacement); joint venture lead

하류

생산물을 소화하는 고객, 유통사, OEM 및 판매 채널.

하류

Canadian Natural Resources Limited (CNRL)

Marathon Petroleum Corporation

Chevron Corporation

Suncor Energy Inc.

NYSE:SU

Major crude oil shipper on Enbridge Mainline; integrated oil producer and refiner; key customer for Western Canadian Sedimentary Basin crude transportation

Canadian Natural Resources Limited (CNRL)

NYSE:CNQ

Largest Canadian oil and gas producer by volume; major shipper on Enbridge Mainline and pipeline network

Cenovus Energy Inc.

NYSE:CVE

Major integrated oil producer and refiner; significant shipper on Enbridge crude oil pipeline system

Imperial Oil Limited

NYSE:IMO

Major integrated oil company (ExxonMobil affiliate); key shipper on Enbridge Mainline to Eastern Canada and US Midwest refineries

Marathon Petroleum Corporation

NYSE:MPC

Major US refiner and shipper on Enbridge Mainline and Lakehead system; receives Canadian crude at Midwest and Gulf Coast refineries

대체 기업

분석에서 대표로 사용하는 상장 비교 기업 및 모니터링 종목.

대체 기업

Enterprise Products Partners L.P.

Tenaris S.A.

TC Energy Corporation

NYSE:TRP

Closest pure-play Canadian midstream pipeline peer; operates NGTL, Keystone, and Mexico pipelines. Comparable regulatory and supply chain exposure to Enbridge's pipeline businesses.

Kinder Morgan Inc.

NYSE:KMI

Largest US midstream energy infrastructure company; comparable pipeline and storage asset base. Useful proxy for US natural gas pipeline and terminal operations.

Enterprise Products Partners L.P.

NYSE:EPD

Large US midstream master limited partnership with comparable scale in NGL, crude oil, and natural gas pipeline infrastructure. Proxy for Enbridge's US pipeline and export terminal operations.

Suncor Energy Inc.

NYSE:SU

Large Canadian integrated oil producer and refiner; key downstream customer proxy. Enbridge's pipeline revenue is directly linked to Suncor's production volumes.

Tenaris S.A.

NYSE:TS

Primary steel pipe supplier to Enbridge; useful supply chain proxy for tracking pipeline construction and maintenance capex cycle.

지역

공급망을 왜곡할 수 있는 지역별 노출.

지역

Canada (Western Canadian Sedimentary Basin / Alberta)

US Gulf Coast (Texas / Ingleside / Houston)

US Midwest / Great Lakes (Michigan, Illinois, Indiana, Ohio)

Suncor Energy Inc.

Canadian Natural Resources Limited

Cenovus Energy Inc.

Imperial Oil Limited

Enbridge Ingleside Energy Center (EIEC)

Marathon Petroleum Corporation

BP p.l.c.

Valero Energy Corporation

Canada (Western Canadian Sedimentary Basin / Alberta)

Upstream crude supply concentration and regulatory risk

Suncor Energy Inc.NYSE:SUMajor oil sands producer and Mainline shipper

Canadian Natural Resources LimitedNYSE:CNQLargest Canadian oil producer and Mainline shipper

Cenovus Energy Inc.NYSE:CVEMajor integrated oil producer and Mainline shipper

US Gulf Coast (Texas / Ingleside / Houston)

Export terminal concentration and hurricane/weather risk

Enbridge Ingleside Energy Center (EIEC)Largest US crude oil export terminal; 25% of Gulf Coast crude exports

US Midwest / Great Lakes (Michigan, Illinois, Indiana, Ohio)

Pipeline infrastructure age, environmental risk (Line 5), regulatory and legal challenges

Marathon Petroleum CorporationNYSE:MPCMajor refiner receiving Canadian crude via Enbridge

BP p.l.c.NYSE:BPRefiner receiving crude via Enbridge Mainline/Lakehead

Valero Energy CorporationNYSE:VLOMidwest refiner receiving Canadian crude

Ontario, Canada / Ohio / Utah / Idaho / Wyoming

Regulated gas utility exposure to weather demand variability and regulatory rate decisions

Enbridge Gas residential/commercial/industrial customers~7.1M regulated natural gas utility customers

집중도

공급망을 왜곡할 수 있는 고객, 공급업체 또는 파트너 집중 노출.

Customer

Critical

Heavy revenue concentration on a small number of large Canadian oil producers (Suncor, CNRL, Cenovus, Imperial) and US refiners (Marathon, Valero, Phillips 66) that ship crude on the Mainline. Loss of any major shipper would materially impact liquids pipeline revenue.

Geographic

Critical

Critical dependency on Western Canadian Sedimentary Basin (WCSB) crude oil production. Any prolonged disruption to Canadian oil sands output or regulatory constraints on pipeline capacity would directly impact Enbridge's primary revenue stream.

Equipment

High

Concentration in large-diameter steel pipe supply; Tenaris and formerly EVRAZ are the primary suppliers. Trade disruptions or steel supply constraints could delay pipeline expansion projects and maintenance.

Regulatory

High

Regulated utility segment (Enbridge Gas) earnings are subject to rate case determinations by provincial and state utility commissions (OEB, PUCO, PSC of Utah, etc.), creating regulatory lag risk.

Other

Medium

Pipeline pump technology concentrated with Sulzer (long-standing sole-source relationship). Disruption at Sulzer could affect Mainline pumping capacity.

매출 구성

대상 기업의 매출 구성이 공급망 영향력과 의존도로 이어지는 방식.

Commodity Sales

53.9%

$25.6B

Commodity sales represent energy marketing/trading activities; requires supply relationships with upstream producers and pipeline shippers as counterparties

Transportation Revenue (Liquids Pipelines)

27.4%

$13.0B

Core midstream tolling revenue from Enbridge Mainline; depends on steel pipe, pumps, and compression equipment suppliers for maintenance and expansion. Heavy dependency on Canadian oil producer shippers as customers

Gas Distribution Revenue

15.0%

$7.1B

Regulated utility business serving 7.1M residential/commercial/industrial customers; requires gas supply procurement, pipeline construction contractors, and meter/valve suppliers

Storage and Other Revenue

2.4%

$1.1B

Natural gas storage and ancillary services; depends on compression equipment and facility maintenance suppliers

Other Revenue

1.3%

$0.6B

Includes renewable energy operations and other minor segments; requires wind turbine and solar equipment suppliers

회사 소개개인정보 처리방침서비스 약관면책 조항종목 디렉터리ETF지수13F 보유 종목목표주가무료 도구기술 지도Slack 참여하기

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Enbridge Inc.

ENB 공급망

상류

Tenaris S.A.

EVRAZ North America / Orion Steel (formerly EVRAZ plc)

Sulzer AG

Baker Hughes (GE Vernova)

Barnard Construction Company, Inc.

Civil & Building North America Inc. (CBNA)

Centuri Holdings, Inc. (NPL Construction)

Caterpillar Inc.

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하류

Suncor Energy Inc.

Canadian Natural Resources Limited (CNRL)

Cenovus Energy Inc.

Imperial Oil Limited

Marathon Petroleum Corporation

Valero Energy Corporation

Phillips 66

Chevron Corporation

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대체 기업

TC Energy Corporation

Kinder Morgan Inc.

Enterprise Products Partners L.P.

Suncor Energy Inc.

Tenaris S.A.

지역

Canada (Western Canadian Sedimentary Basin / Alberta)

US Gulf Coast (Texas / Ingleside / Houston)

US Midwest / Great Lakes (Michigan, Illinois, Indiana, Ohio)

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ENB 공급망

상류

Tenaris S.A.

EVRAZ North America / Orion Steel (formerly EVRAZ plc)

Sulzer AG

Baker Hughes (GE Vernova)

Barnard Construction Company, Inc.

Civil & Building North America Inc. (CBNA)

Centuri Holdings, Inc. (NPL Construction)

Caterpillar Inc.

View More

하류

Suncor Energy Inc.

Canadian Natural Resources Limited (CNRL)

Cenovus Energy Inc.

Imperial Oil Limited

Marathon Petroleum Corporation

Valero Energy Corporation

Phillips 66

Chevron Corporation

View More

대체 기업

TC Energy Corporation

Kinder Morgan Inc.

Enterprise Products Partners L.P.

Suncor Energy Inc.

Tenaris S.A.

지역

Canada (Western Canadian Sedimentary Basin / Alberta)

US Gulf Coast (Texas / Ingleside / Houston)

US Midwest / Great Lakes (Michigan, Illinois, Indiana, Ohio)

View More