Olivia Woods
Energy giant Enbridge Inc. new CEO, claims that the regulatory uncertainty in Canada has caused a “lost decade” for Canada’s liquefied natural gas (LNG) production.
New Enbridge CEO Greg Ebel made the remarks in an interview after the company released its financial results for the fourth quarter. Ebel replaced Al Monaco as CEO in January.
According to Ebel, who was CEO of Spectra Energy until Enbridge bought it in February 2017, he met with cabinet officials in Ottawa last week to discuss the urgent need to speed up the development of Canada’s energy infrastructure.
He mentioned that the United States didn’t start shipping LNG abroad until 2016.
Today, the United States is the number one exporter of LNG in the world, as well as the country with the biggest LNG export capacity, as reported by the U.S. Energy Information Administration.
“Goodness, that’s an opportunity lost for Canada,” Ebel added. Currently, five LNG export terminals on the U.S. Gulf Coast receive natural gas through Enbridge’s pipelines.
He stated that Enbridge is still determined to make additional acquisitions in the Gulf region to help speed up its oil export strategy.
“As someone responsible for allocating both human capital and financial capital, I have to do that where it seems most welcome,” he added.
Canada is making progress in the LNG sector, with both LNG Canada’s LNG export terminal at Kitimat, B.C., and Enbridge’s Woodfibre LNG, a partnership with Singapore’s Pacific Energy Corp., having received regulatory approval.
Original source material for this article taken from here
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