Pipeline company Enbridge unfazed by rival oil shipping projects - BERITAJA

An executive pinch Enbridge Inc. says the institution is unfazed by rival lipid pipeline description s apt to jockey for oilsands producers’ business.

If anything, the stepped-up title is simply a bully sign, said Colin Gruending, who leads Enbridge’s liquids pipelines business.

“We’ve seen different competitors respond to the rather favourable outlook successful the Canadian basin, which is not surprising,” Gruending told analysts connected a convention telephone to talk first-quarter results Friday.

If customers do motion semipermanent contracts connected competing proposals, Gruending said he would “view it arsenic a affirmative motion and a ballot of assurance successful the basin and successful the outlook.”

Chief executive Greg Ebel said the macroeconomic scenery is the strongest he’s seen successful much than a decade, arsenic the world lipid and state proviso crunch, triggered by the warfare successful the Middle East, drives up request for the services Enbridge provides.

Calgary-based Enbridge is successful the midst of expanding its immense web successful Canada and the United States including the Canadian Mainline which is the backbone of Canada’s lipid proscription infrastructure and besides feeds crude to galore markets southbound of the border.

Work connected an first 150,000-barrel-a-day shape of its Mainline Optimization Program is underway.

Enbridge expects to make a determination connected whether to proceed pinch a 2nd 250,000-barrel-a-day shape later this year. To support the 2nd phase, Enbridge has launched general processes to gauge customer liking successful 2 U.S. pipeline description s serving the U.S. Gulf Coast.

Gruending said an advantage of a Mainline description is the comparative velocity astatine which it could get up and running, arsenic it would boost output from existing infrastructure and not require caller tube astatine a ample scale.

Enbridge competitor South Bow has its ain cross-border pipeline plans successful the useful pinch a task called Prairie Connector.

It is now going complete bids it received for a task that would transportation Alberta crude to the Canada-U.S. separator and various points south, utilizing dormant infrastructure that had been meant for the defunct Keystone XL description project. It could nexus up pinch a abstracted task being pursued by Bridger Pipeline LLC from Wyoming to the Canada-U.S. border, that precocious received a licence from U.S. President Donald Trump.

Meanwhile, plans are afoot to nonstop much Alberta crude to the West Coast for export to Asia. Crown corp Trans Mountain Corp. is looking astatine a bid of description projects to boost the magnitude of crude it could vessel to the Vancouver area.

Earlier Friday, Enbridge reported a first-quarter profit attributable to communal shareholders of $1.67 billion, down from $2.26 cardinal a twelvemonth earlier.

That amounted to 77 cents per stock for the 4th ended March 31, down from $1.04 per stock successful the aforesaid 4th past year.

The institution said the driblet was chiefly owed to non-cash, unrealized changes successful derivatives utilized to negociate overseas exchange, liking complaint and commodity value risks.

On an adjusted basis, Enbridge says it earned 98 cents per stock successful its latest quarter, down from an adjusted profit of $1.03 per stock successful the first 4th of 2025.

The institution says its secured superior backlog stood astatine $40 cardinal arsenic it sanctioned respective projects including the Cone project, an onshore upwind installation successful Texas that will support a information centre for Meta Platforms Inc.

Enbridge is besides going up pinch maturation astatine its Tres Palacios earthy state retention installation and an description of its 60 per cent owned Vector Pipeline.