Enbridge Operations and Financial Update
Energy Markets
Growing Global GDP1
(Indexed Real GDP1 Sept. 2021 Forecast)
Forecast
Growing Oil & Gas Demand2
(2021 Global Demand vs. 2020)
EENBRIDGE
Tight Inventory Balances
2021 % of 5-year range for N.A. & Europe
140%
Crude + Products³
+5%
+7%
+9%
120%
100%
~4% CAGR
80%
+8%
60%
40%
+17%
20%
Natural Gas Storage²
0%
2018
2019
2020
2021
2022
2023
LNG Exports Diesel
(Bcf/d)
Gasoline PetChems
Jet Fuel
-20%
Jan Feb Mar Apr May Jun Jul Aug Sep
• 4% average annual GDP growth
through 2023
Global growth driven by low-cost,
reliable and secure energy supply
Natural gas in high demand
supported by growing LNG trade
Crude oil demand in 2022 expected
to exceed pre-pandemic levels
⚫ Under-investment driving
inventories to near 5-year lows
Replenishing inventories and
supply growth will take time
Sustainably produced conventional energy is critical to the global economy
(1) World Bank Group (2) Source: IHS Markit. The use of this content was authorized in advance. Any further use or redistribution of this content is strictly prohibited without written permission by IHS Markit. 3) U.S. Energy Information Administration,
third-party data and company estimates.
5
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