2022 Investor Day Presentation
Capital expenditure program delivering long-term value
$Billions
12
2022
-
2026E CAPITAL OUTLOOK
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1.8
2.1
8
0.7
6.7
0.1
0.9
6.4
1.1
16
2.3
1.9
1.4
2.9
4
0.8
0.9
3.7
0.8
1.5
1.9
2.1
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4.4
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>$7B funded
through capital
rotation
<$5B
accelerates
deleveraging
Total maintenance capital
0.9
2.2
1.2
0.7
0.3
0.3
-0.2
2022E
2023E
Canadian Natural Gas Pipelines
U.S. Natural Gas Pipelines
2024E
Mexico Natural Gas Pipelines
2025E
2026E
Liquids Pipelines
Power & Energy Solutions
Average foreign exchange assumption USD/CAD: 1.31
Note: Figures do not include impact of potential asset sales or further revisions to Coastal GasLink project costs.
Industry leading $34 billion, fully
sanctioned secured capital program
Annual maintenance capital 2022-2026E
~90% has opportunity to earn a return on and
of capital through current and future tolls
Portfolio expected to deliver a
weighted average unlevered
after-tax IRR of 7-9%
0
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