Enbridge Open to New Canada Oil Pipeline After Carney-Alberta Deal

MT Newswires Live05-16

Enbridge (ENB) CEO Greg Ebel said the company would "definitely consider" backing a new oil pipeline to Canada's west coast after Prime Minister Mark Carney and Alberta Premier Danielle Smith reached an energy agreement, Bloomberg reported on Friday.

The proposed pipeline could transport about 1 million barrels a day of Canadian crude to British Columbia for exports to Asia. The deal includes a slower-rising carbon tax and a scaled-back carbon capture plan.

"It's a big step forward for Canada," Ebel told Bloomberg Television, adding the agreement was "definitely a page-flip."

Bloomberg said Ebel's comments mark a shift from February, when he said Enbridge would not take on the development risk of a new west coast pipeline.

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