{"id":662636,"date":"2026-09-10T18:11:18","date_gmt":"2026-09-11T01:11:18","guid":{"rendered":"https:\/\/nai500.com\/?p=662636"},"modified":"2026-09-10T18:11:18","modified_gmt":"2026-09-11T01:11:18","slug":"%e6%94%b6%e8%b3%bc%ef%bc%8c%e6%8f%9b%e5%b8%a5%ef%bc%8c%e9%80%99%e5%8f%aa%e5%8a%a0%e6%8b%bf%e5%a4%a7%e7%ae%a1%e9%81%93%e8%82%a1%e7%9a%84%e8%82%a1%e6%81%af%e5%ae%89%e5%85%a8%e5%a2%8a%e5%86%8d%e5%8a%a0","status":"publish","type":"post","link":"https:\/\/nai500.com\/zh-hant\/blog\/2026\/09\/%e6%94%b6%e8%b3%bc%ef%bc%8c%e6%8f%9b%e5%b8%a5%ef%bc%8c%e9%80%99%e5%8f%aa%e5%8a%a0%e6%8b%bf%e5%a4%a7%e7%ae%a1%e9%81%93%e8%82%a1%e7%9a%84%e8%82%a1%e6%81%af%e5%ae%89%e5%85%a8%e5%a2%8a%e5%86%8d%e5%8a%a0\/","title":{"rendered":"\u6536\u8cfc\uff0c\u63db\u5e25\uff0c\u9019\u53ea\u52a0\u62ff\u5927\u7ba1\u9053\u80a1\u7684\u80a1\u606f\u5b89\u5168\u588a\u518d\u52a0\u539a"},"content":{"rendered":"<p>\u8fd1\u671f\uff0c\u52a0\u62ff\u5927\u80fd\u6e90\u57fa\u790e\u8a2d\u65bd\u5de8\u982d <a href=\"https:\/\/nai500.com\/zh-hans\/%e8%82%a1%e7%a5%a8%e6%9f%a5%e8%af%a2\/?qm_symbol=ENB%3ACA\">Enbridge\uff08ENB\uff09<\/a>\u63a5\u9023\u91cb\u653e\u91cd\u78c5\u52d5\u4f5c\uff1a\u4ee5 25.5 \u5104\u7f8e\u5143\u73fe\u91d1\u6536\u8cfc Tallgrass Energy \u65d7\u4e0b\u539f\u6cb9\u904b\u8f38\u696d\u52d9\uff0c\u540c\u6b65\u6572\u5b9a\u7ba1\u7406\u5c64\u63db\u5c46\u65b9\u6848\u3002\u8cc7\u7522\u64f4\u5f35\u8207\u4eba\u4e8b\u5e73\u7a69\u4ea4\u63a5\u540c\u6b65\u843d\u5730\uff0c\u5728\u592f\u5be6\u9577\u671f\u73fe\u91d1\u6d41\u5e95\u76e4\u7684\u540c\u6642\uff0c\u9032\u4e00\u6b65\u52a0\u56fa\u9019\u53ea\u9023\u7e8c 31 \u5e74\u4e0a\u8abf\u80a1\u606f\u6a19\u7684\u7684\u5206\u7d05\u5b89\u5168\u588a\u3002<\/p>\n<p>\u672c\u6b21\u6536\u8cfc\u805a\u7126\u7f8e\u570b\u5167\u9678\u539f\u6cb9\u904b\u8f38\u6838\u5fc3\u8cc7\u7522\u3002Enbridge \u5c07\u62ff\u4e0b Pony Express \u7ba1\u9053 75% \u6b0a\u76ca\u3001Powder River Gateway \u7cfb\u7d71 51% \u6b0a\u76ca\uff0c\u4ee5\u53ca\u7d04 840 \u842c\u6876\u539f\u6cb9\u5132\u5b58\u80fd\u529b\u3002\u6838\u5fc3\u7ba1\u9053\u4e32\u806f\u843d\u57fa\u5c71\u8108\u591a\u7522\u5340\u8207\u4fc4\u514b\u62c9\u8377\u99ac\u5dde\u5eab\u6b23\u6a1e\u7d10\uff0c\u4e0b\u6e38\u5c0d\u63a5\u7d04 50 \u842c\u6876 \/ \u65e5\u7149\u5316\u7522\u80fd\uff0c\u5c07\u8207\u516c\u53f8\u73fe\u6709 Express-Platte \u7ba1\u7db2\u5f62\u6210\u904b\u71df\u5354\u540c\uff0c\u5f37\u5316\u7f8e\u570b\u5167\u9678\u539f\u6cb9\u5e02\u5834\u7684\u7db2\u7d61\u512a\u52e2\u3002<\/p>\n<p>\u4ea4\u6613\u5c0d\u61c9\u9060\u671f\u4f01\u696d\u50f9\u503c\u8207 EBITDA \u500d\u6578\u70ba 10 \u81f3 11 \u500d\uff0c\u540c\u6642\u7d0d\u5165 PXP2 \u64f4\u5efa\u9805\u76ee\u3002\u5f8c\u7e8c\u5c07\u6295\u5165\u7d04 3 \u5104\u7f8e\u5143\u5c07 Pony Express \u65e5\u7522\u80fd\u63d0\u5347\u81f3 51.5 \u842c\u6876\uff0c\u9805\u76ee\u5df2\u7372\u7167\u4ed8\u4e0d\u8b70\u5408\u540c\u652f\u6490\uff0c\u9810\u8a08 2027 \u5e74\u5e95\u6295\u7522\uff0c\u4ea4\u5272\u5f8c\u5c07\u7d0d\u5165 Enbridge \u898f\u6a21\u9054 410 \u5104\u7f8e\u5143\u7684\u5df2\u9396\u5b9a\u589e\u9577\u9805\u76ee\u5132\u5099\u3002\u9019\u662f Enbridge \u5e74\u5167\u7b2c\u4e8c\u6b21\u64f4\u5f35\u7f8e\u570b\u539f\u6cb9\u57fa\u790e\u8a2d\u65bd\uff0c\u5169\u7b46\u6536\u8cfc\u90e8\u5206\u8cc7\u91d1\u5c07\u901a\u904e\u80a1\u6b0a\u767c\u884c\u7c4c\u96c6\uff0c\u540c\u6642\u70ba\u5f8c\u7e8c\u589e\u9577\u4fdd\u7559\u878d\u8cc7\u9748\u6d3b\u6027\u3002\u4ea4\u6613\u9810\u8a08 2026 \u5e74\u5167\u5b8c\u6210\u4ea4\u5272\uff0c\u9996\u500b\u5b8c\u6574\u8ca1\u5e74\u5373\u53ef\u589e\u539a\u6bcf\u80a1\u53ef\u5206\u914d\u73fe\u91d1\u6d41\uff0c\u4e14\u4e0d\u6703\u5c0d 2026 \u5e74\u8ca1\u52d9\u6307\u5f15\u7522\u751f\u5be6\u8cea\u6027\u5f71\u97ff\u3002<\/p>\n<p>\u4eba\u4e8b\u5c64\u9762\uff0cEnbridge \u540c\u6b65\u5ba3\u4f48\u7ba1\u7406\u5c64\u4ea4\u63a5\uff1a\u73fe\u4efb CEO Greg Ebel \u5c07\u65bc 2026 \u5e74\u5e95\u9000\u4f11\uff0c\u73fe\u4efb\u57f7\u884c\u526f\u7e3d\u88c1 Michele Harradence \u5c07\u4e8e 2027 \u5e74\u521d\u63a5\u4efb\u3002\u4f5c\u70ba\u5167\u90e8\u57f9\u990a\u7684\u7e7c\u4efb\u8005\uff0cHarradence \u4e3b\u5c0e\u5b8c\u6210\u904e 2024 \u5e74\u4e09\u5bb6\u7f8e\u570b\u71c3\u6c23\u516c\u7528\u4e8b\u696d\u7684\u6536\u8cfc\u6574\u5408\uff0c\u5177\u5099\u8c50\u5bcc\u7684\u696d\u52d9\u904b\u71df\u8207\u4e26\u8cfc\u6574\u5408\u7d93\u9a57\u3002\u5c65\u65b0\u5f8c\uff0c\u5979\u5c07\u727d\u982d\u63a8\u9032\u8d85 410 \u5104\u7f8e\u5143\u7684\u5df2\u9396\u5b9a\u8cc7\u672c\u9805\u76ee\u843d\u5730\uff0c\u540c\u6642\u5728\u5317\u7f8e\u6cb9\u6c23\u9700\u6c42\u4e0a\u5347\u80cc\u666f\u4e0b\u6316\u6398\u65b0\u7684\u589e\u9577\u6a5f\u6703\u3002\u516c\u53f8\u540c\u6642\u660e\u78ba\u5c07\u7dad\u6301 4.5 \u81f3 5.0 \u500d\u7684\u50b5\u52d9\u8207\u8abf\u6574\u5f8c EBITDA \u6760\u6746\u76ee\u6a19\uff0c\u4e26\u91cd\u7533 EBITDA\u3001\u6bcf\u80a1\u53ef\u5206\u914d\u73fe\u91d1\u6d41\u8207\u6bcf\u80a1\u6536\u76ca\u7d04 5% \u7684\u5e74\u8907\u5408\u589e\u9577\u4e2d\u671f\u6307\u5f15\u3002<\/p>\n<p>\u4f5c\u70ba\u5317\u7f8e\u5e02\u5834\u77e5\u540d\u7684\u9ad8\u606f\u9632\u79a6\u6a19\u7684\uff0cEnbridge \u5df2\u9023\u7e8c 31 \u5e74\u4e0a\u8abf\u80a1\u606f\uff0c\u7576\u524d\u80a1\u606f\u7387\u7d04 5.5% \u81f3 5.6%\u3002\u7ba1\u9053\u904b\u71df\u63a1\u7528\u6536\u8cbb\u6a21\u5f0f\uff0c\u6536\u5165\u8207\u5927\u5b97\u5546\u54c1\u50f9\u683c\u6ce2\u52d5\u95dc\u806f\u5ea6\u4f4e\uff0c\u73fe\u91d1\u6d41\u7a69\u5b9a\u6027\u5f37\u30022026 \u5e74\u516c\u53f8\u6bcf\u80a1\u53ef\u5206\u914d\u73fe\u91d1\u6d41\u9810\u8a08\u5728 5.70 \u81f3 6.10 \u52a0\u5143\u5340\u9593\uff0c\u53ef\u5145\u5206\u8986\u84cb\u7576\u671f\u80a1\u606f\u6d3e\u767c\u9700\u6c42\u3002<\/p>\n<p>\u8fd1\u671f\u516c\u53f8\u80a1\u50f9\u51fa\u73fe\u56de\u8abf\uff0c\u4e3b\u8981\u53d7\u50b5\u5238\u6536\u76ca\u7387\u4e0a\u5347\u8207\u5229\u7387\u9810\u671f\u8b8a\u5316\u5f71\u97ff\u3002\u9577\u671f\u4f86\u770b\uff0c\u9f90\u5927\u7684\u7ba1\u7db2\u8cc7\u7522\u3001\u6301\u7e8c\u843d\u5730\u7684\u589e\u9577\u9805\u76ee\u8207\u7a69\u5b9a\u7684\u5206\u7d05\u589e\u9577\u6b77\u53f2\uff0c\u5171\u540c\u69cb\u6210 Enbridge \u7684\u6838\u5fc3\u6295\u8cc7\u50f9\u503c\uff0c\u5c0d\u65bc\u8ffd\u6c42\u88ab\u52d5\u6536\u5165\u7684\u9577\u671f\u6295\u8cc7\u8005\u5177\u5099\u8f03\u9ad8\u5438\u5f15\u529b\u3002\u76ee\u524d\u672c\u6b21\u6536\u8cfc\u4ecd\u5f85\u7f8e\u570b\u53cd\u58df\u65b7\u5be9\u67e5\u7b49\u76e3\u7ba1\u5be9\u6279\uff0c\u96a8\u8457\u4ea4\u6613\u843d\u5730\u8207\u65b0\u5e25\u5e73\u7a69\u5c65\u8077\uff0c\u516c\u53f8\u73fe\u91d1\u6d41\u5e95\u76e4\u5c07\u9032\u4e00\u6b65\u592f\u5be6\uff0c\u5ef6\u7e8c\u4e09\u5341\u9918\u5e74\u7684\u80a1\u606f\u589e\u9577\u7d00\u9304\u4e5f\u5c07\u7372\u5f97\u66f4\u7a69\u56fa\u7684\u652f\u6490\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u8fd1\u671f\uff0c\u52a0\u62ff\u5927\u80fd\u6e90\u57fa\u790e\u8a2d\u65bd\u5de8\u982d Enbridge\uff08ENB\uff09\u63a5\u9023\u91cb\u653e\u91cd\u78c5\u52d5\u4f5c\uff1a\u4ee5 25.5 \u5104\u7f8e\u5143\u73fe\u91d1\u6536\u8cfc Tal [&hellip;]<\/p>\n","protected":false},"author":27,"featured_media":489806,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[1522,431],"tags":[793,589,568,1860],"class_list":["post-662636","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-1522","category-trends-strategies-zh-hant","tag-793","tag-589","tag-zh-hant-blog-tag-","tag--zh-hant","sectors-oil-gas-zh-hant","locations-canada-zh-hant","locations-us-zh-hant","exchange-tsx-zh-hant"],"acf":[],"_links":{"self":[{"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/posts\/662636","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/users\/27"}],"replies":[{"embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/comments?post=662636"}],"version-history":[{"count":3,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/posts\/662636\/revisions"}],"predecessor-version":[{"id":662639,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/posts\/662636\/revisions\/662639"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/media\/489806"}],"wp:attachment":[{"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/media?parent=662636"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/categories?post=662636"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/tags?post=662636"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}