Reuters and the energy media are reporting that Enbridge told an investor conference call this morning the company is joining the liquified natural gas export rush.
In Enbridge eyes Canada LNG exports, Reuters reports:
Enbridge Inc said on Tuesday it is in talks with potential producers to export overseas liquefied natural gas from Canada, joining a lengthening list of North American companies looking to tap thirsty markets in Asia.
Enbridge would be interested in existing projects being developed in Canada, executive vice president Al Monaco said at a presentation, just as ample supply pushes North American natural gas prices to 11-month lows.
“We would certainly be interested in LNG exports, right from the midstream pipeline side, right up to the LNG export facility itself,” Monaco said at the company’s investor day in Toronto, which was webcast.
“We are in discussions with potential producers. That is probably a little bit longer term,” he added.
Both Reuters and the industry news site Upstream Online report that Enbridge would consider buying into an existing project.
Heavy oil pipeline in Columbia
Upstream Online also reports that Enbridge is considering a heavy oil pipeline from the interior of Columbia to the Pacific coast of South America.
“Over the past few months we’ve been discussing a possible project to access tidewater off the western coast,” Monaco said. “The line would provide direct access to the Pacific markets which have an appetite for heavy crude and provide takeaway capacity for the growing volumes that are coming from central Colombia.”
Monaco said the producers have confirmed their interest in the project, dubbed Oleoducto al Pacifico, and provided Enbridge with the money to carry out a feasibility review to determine the line’s route, capacity and costs.
Kitimat is the terminal point for the KM LNG and BC LNG points as well as the proposed Enbridge Northern Gateway project that would carry bitumen from Alberta to the terminal. All project contemplate exporting to the hungry markets of Asia.