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Enbridge Inc
Symbol ENB
Shares Issued 831,595,283
Close 2014-04-14 C$ 50.76
Market Cap C$ 42,211,776,565
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FP says Enbridge dogged by new first nations plan

2014-04-15 06:47 ET - In the News

The Financial Post reports in its Tuesday, April 15, edition that a first nations-led consortium is seeking to build an alternative project to Enbridge's Northern Gateway pipeline that would link Alberta's oil sands to the British Columbia coast. The Post's Yaddullah Hussain and Jeff Lewis write that Eagle Spirit Energy Holdings and Vancouver-based Aquilini Group say they have signed non-disclosure agreements with a "substantial number" of first nation groups in B.C., including some "staunchly opposed" to the Enbridge project. The alternative pipeline would have a tentative 2020 start date once it secures a "social licence" from first nations to operate, the group said on Monday. "The only licence that matters to do this [project] in British Columbia is the social licence from the first nations community," said Eagle Spirit chairman Calvin Helin, noting he spent a year and a half listening carefully to the feedback from and concerns of first nations. The group will file an application with the National Energy Board only after it has addressed all first nations concerns and issues. The Aquilini family said it will underwrite the cost of the pipeline as long as it gets support of all first nations.

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