CALGARY – Enbridge’s CEO announced yesterday that the company plans to spend roughly $1 billion to expand its natural gas pipeline system in B.C. in the wake of an increase in domestic natural gas production.
According to an article in the Financial Post, during an earnings call on Thursday, Enbridge president and CEO Al Monaco said that the company has launched an open season for commitments from natural gas producers to send more gas from the Montney region to the Vancouver area. The company acquired the pipeline system after its merger with Spectra Energy in February.
Monaco said that the spike of gas production in the Montney surprised Enbridge. “That’s probably something that’s going to provide more opportunities than we initially thought,” Monaco said.
The expansion would add compressor stations to an existing pipeline, which would increase its capacity by 190 million cubic feet per day. According to the Post, the expansion would be complete by the end of 2020.
Story courtesy The Financial Post: http://business.financialpost.com/news/energy/enbridge-taps-into-booming-natural-gas-production-with-1b-expansion-plan