Enbridge CEO Greg Ebel says the company will not take on the financial risk of building a new oil pipeline from Alberta to the B.C. coast, even though the Alberta government has asked for its advice. Speaking to investors, Ebel said Enbridge does not want to risk investing in projects that could be cancelled before they are approved.
He pointed to the failed Northern Gateway project, which was cancelled in 2016 after the Federal Court of Appeal ruled that Indigenous consultations were not adequate. Enbridge had already spent about $600 million on that project. Alberta Premier Danielle Smith plans to propose a new West Coast pipeline to Ottawa, hoping to expand Canada’s energy exports.
Ebel said Enbridge is willing to build projects once they are fully approved, but not before. The company is instead focusing on other growth projects, including pipeline expansions and energy work supporting data centres run by companies such as Meta.
