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Investing.com - Enbridge Inc (NYSE:ENB) said Wednesday that any new Canadian oil pipeline would require legislative changes, including shortened approval timelines, before such a project could move forward, according to Bloomberg.
The largest oil pipeline company in North America indicated that while new projects "require careful consideration," it has not ruled out potential involvement in future pipelines designed to expand oil exports from western Canada.
"We will be there to build what is needed for our shippers, for Alberta and for Canada – that’s our job, our mission as a company – but only when the conditions make sense and the right framework is in place," the Calgary-based company stated when asked by Bloomberg about plans for an oil pipeline from Alberta to the British Columbia coast.
The statement follows comments from Alberta Premier Danielle Smith, who told Bloomberg News on Monday that she anticipates a private-sector firm will propose a new oil pipeline to the coast within weeks.
The news also comes amid Mark Carney’s Liberal administration’s recent appointment. While on the campaign trail, Carney pledged to expedite approvals and consolidate departments.
Enbridge’s position suggests that regulatory hurdles remain a significant consideration for pipeline development in Canada, even as provincial leaders push for expanded export capacity for Canadian oil producers.
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