08:52:08 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



Enbridge Inc
Symbol ENB
Shares Issued 929,112,973
Close 2016-05-16 C$ 52.14
Market Cap C$ 48,443,950,412
Recent Sedar Documents

Van Sun/wire say Enbridge sees pipeline support grow

2016-05-16 09:21 ET - In the News

The Vancouver Sun reports in its Saturday edition that Enbridge sees political momentum shifting toward support of the Northern Gateway oil pipeline as the company brings on more indigenous communities as partners. A Bloomberg dispatch to The Sun quotes Enbridge boss Al Monaco as saying that he is hearing encouraging messages from the federal and Alberta governments. The company said last week it had increased the indigenous ownership interest in the project to one-third as it asked for a three-year extension from the National Energy Board regulator to build the pipeline across British Columbia. "I'm encouraged," Mr. Monaco told reporters after the company's annual meeting. "The way I look at it is that door has been opened slightly and we're seeing some positive momentum." Even as a market downturn slows development, companies are trying to overcome environmental opposition that has stymied pipeline proposals. Gateway was approved by the previous federal government in 2014 with 209 conditions and Enbridge pledged to build more support from indigenous communities along the route before moving ahead. Prime Minister Justin Trudeau has opposed Gateway and pledged a "moratorium" on north coast tanker traffic.

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