Enbridge on Tuesday forecast higher core profit for 2025, as the Canadian pipeline operator expects strong demand for oil and gas to lift volumes.
The company forecast adjusted core earnings of between C$19.4 billion ($13.82 billion) and C$20 billion next year, higher than its 2024 expectations.
In November, U.S. natural gas producers said they will increase output in 2025 after a series of production cuts this year, as increased demand from LNG export plants is expected to drive up prices.
Enbridge expects to deploy nearly C$7 billion of capital in 2025, exclusive of maintenance capital.
The company also raised its 2025 dividend by 3%.
($1 = 1.4038 Canadian dollars)
(Reporting by Pooja Menon in Bengaluru; Editing by Devika Syamnath)