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Enbridge Inc
Symbol ENB
Shares Issued 846,632,952
Close 2014-10-07 C$ 51.86
Market Cap C$ 43,906,384,891
Recent Sedar Documents

Globe says Enbridge, rivals see Petronas play hardball

2014-10-08 06:58 ET - In the News

Also In the News (C-TRP) TransCanada Corp

The Globe and Mail reports in its Wednesday edition that Petronas is nearing a decision on proceeding with a massive West Coast LNG project. The Globe's Jeffrey Jones writes that Petronas boss Shamsul Azhar Abbas has taken to playing hardball as the B.C. government gets down to putting final touches on a tax regime for the liquefied natural gas industry. Mr. Abbas wants B.C. Premier Christy Clark to okay a fiscal package that has got just the right incentives for building hugely expensive plants. He wants it done soon. Mr. Abbas suggests he could shut down development and the planned expenditure of $36-billion over the next 10 to 15 years. The Globe says Mr. Abbas's tactic is not unlike those used by pro sports team owners when they demand tax breaks and other government goodies to build new stadiums, and threaten to move the team if they get rejected. Mr. Abbas knows Ms. Clark's weak spot on the public stage. It is in the promise she held up during the last provincial election of a supercooled gas industry to rival others around the world. She said British Columbians could expect three operating plants by the end of the decade, something that now looks highly unlikely.

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