Enbridge and Oxy Low Carbon Ventures to Explore the Development of a CO2 Pipeline Transportation and Sequestration Hub near Corpus Christi, Texas

HOUSTON, Nov. 30, 2022 /PRNewswire/ - Enbridge Inc. (Enbridge) (TSX: ENB) (NYSE: ENB) and Oxy Low Carbon Ventures (OLCV), a subsidiary of [Occidental](Occidental) (NYSE: OXY), today announced that the parties intend to work towards jointly developing a carbon dioxide (CO2) sequestration hub in the Corpus Christi area of the Texas Gulf Coast. Enbridge and OLCV signed a letter of intent to explore this joint project, which would provide a complete CO2 solution for area emitters through the development of a pipeline transportation system and sequestration facility.

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Enbridge and OLCV would leverage each company's strengths to advance the development of a sequestration hub and associated transportation infrastructure. Enbridge would develop, construct, and operate the pipeline facilities and OLCV would develop, construct, and operate the sequestration facilities. The hub is expected to provide CO2 solutions for Enbridge's proposed facilities as well as other point source emitters in the Corpus Christi area.

Enbridge and OLCV would jointly market the CO2 pipeline transportation and sequestration services to other third-party CO2 point source emitters in the Ingleside and Corpus Christi areas.

"We are excited to be partnering with OLCV to explore developing a large-scale CO2 transport and sequestration hub in the Corpus Christi area," said Colin Gruending, Enbridge Executive Vice President and President, Liquids Pipelines. "This is a unique opportunity for two organizations to pair complementary skill sets in a way that decarbonizes our own facilities and provides a platform for our industrial neighbors who are also seeking to reduce their emissions."

"We look forward to working with Enbridge as we advance our plans to develop sequestration hubs that will provide a practical decarbonization solution for industrial emitters," said Jeff Alvarez, President and General Manager, Sequestration, Oxy Low Carbon Ventures. "This collaboration will help accelerate the path to net zero not only for ourselves, but for other organizations who are exploring end-to-end solutions to capture, transport and permanently store CO2."

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About Enbridge Inc.

At Enbridge, we safely connect millions of people to the energy they rely on every day, fueling quality of life through our North American natural gas, oil or renewable power networks and our growing European offshore wind portfolio. We're investing in modern energy delivery infrastructure to sustain access to secure, affordable energy and building on two decades of experience in renewable energy to advance new technologies including wind and solar power, hydrogen, renewable natural gas and carbon capture and storage. We're committed to reducing the carbon footprint of the energy we deliver, and to achieving net zero greenhouse gas emissions by 2050. Headquartered in Calgary, Alberta, Enbridge's common shares trade under the symbol ENB on the Toronto (TSX) and New York (NYSE) stock exchanges. To learn more, visit us at enbridge.com.

About Oxy Low Carbon Ventures

Oxy Low Carbon Ventures, LLC (OLCV) is a subsidiary of Occidental (Oxy), an international energy company with assets primarily in the United States, the Middle East and North Africa. OLCV is focused on advancing cutting-edge, low-carbon technologies and business solutions that enhance Oxy's business while reducing emissions. OLCV also invests in the development of low-carbon fuels and products, as well as sequestration services to support carbon capture projects globally. Visit Carbon Innovation on oxy.com for more information.

SOURCE Enbridge Inc.