Enbridge Looks Beyond Oil Sands as Rout Casts Doubts on Projects
- Company looking at power generation and energy services
- Pipeline operator has $13 billion of projects through 2019
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Enbridge Inc. is looking for ways to reduce its dependence on oil-sands growth as a prolonged crude price collapse casts doubts over the future of projects in Western Canada.
The pipeline company will seek to shift its focus after the current wave of projects draws to a close near the end of the decade, said Guy Jarvis, who heads the company’s pipeline operations, during a conference call on Friday. Enbridge, which has C$18 billion ($13 billion) of projects with secured customers through 2019, is also looking at power generation and energy services as areas for growth.